N.Y. Times Buys About.com

The New York Times Company reached a deal to buy About.com from Primedia for $410 million. News of the deal follows a week of rumors About.com was for sale, and coveted by The Times, along with several other bidders.

The purchase adds an alternative content model to the New York Times Company's online news properties, NYTimes.com and Boston.com. In a statement, the company said it was motivated by About's profitability and growth, and said the purchase would diversify the company's online advertising base. About.com will operate as a separate business division.