Answers.com is in talks with the New York Times Company to acquire it's answers website, About.com, according to a post in the New York Times' Media and Advertising section. Still in preliminary talks, it is said that Answers.com will pay $270 million to the New York Times for the deal.
The New York Times acquired About.com in 2005 for just a little over $400 million. The site has been underperforming as of recently, seeing an 8.7% decline in revenue in the most recent quarter due to a fall in display advertising.
It is unclear when the deal will finish, as according to an executive close to the matter, financing has yet to be secured. New York Times Company representatives have refused to comment on the matter.