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New York Times to buy VC-backed The Athletic: NYT

The New York Times is reporting that it has agreed to buy The Athletic, an online sports news outlet.

The New York Times is reporting that it has agreed to buy The Athletic, an online sports news outlet. The deal is valued at $550 million. The news outlet noted that Alex Mather and Adam Hansmann, who started The Athletic in 2016, will stay on after the transaction closes. The Athletic‘s backers include Founders Fund and Bedrock Capital.

Source: NYT