1:49 pm Aug. 8, 2012
The Lineup collects the media stories, big and small, that are on our radar each day.
Following numerous reports this morning, The New York Times Company has confirmed that it is in discussions to sell About.com, the personal-service franchise that has become a drag on the company's quarterly earnings results.
"No definitive agreement has been reached," the company said in a statement. "The negotiations are ongoing and there can be no assurances that an agreement will be reached or that a transaction will be completed."
News of a potential sale was first reported by AllThingsD's Peter Kafka, who wrote that the Times Company "had a deal in place" to unload the website to Answers.com. Times Company stock was trading up following the news.
In other news...
Amy Chozick writes that President Obama "has come to believe the news media have had a role in frustrating his ambitions to change the terms of the country’s political discussion." [The New York Times]
BuzzFeed is launching a food section this fall. [Grub Street]
Bloomberg's convention plans. [Politico/On Media]
More by this author:
- 'Village Voice' fires Michael Musto in yet another round of cuts
- 'New York Post' buyouts focus on 'loyal soldiers ... highest paid'