NY Times sells off About.com

THE NEW York Times Company has sold its information website About.com to online media company IAC, in a $300m (£190m) cash deal.

IAC, which also runs the Ask Jeeves website, beat rival bids from Answers.com and Demand Media.

NYT has made a loss on the website after buying it for $410m in 2005, with About.com seeing advertising revenues drop after Google changed the way its search engine handled questions. A merger of Ask.com and About.com would still create the sixth-biggest website globally, according to comScore.