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The New York Times Company announces US$550 million acquisition of The Athletic

On Jan. 6, 2022, The New York Times Company (NYSE: NYT) announced it has entered into an agreement to acquire global digital subscription-based sports media business The Athletic for an all-cash purchase price of $550 million, subject to customary closing adjustments. The Athletic provides national and local coverage of more than 200 clubs and teams in the U.S. and around the world. The transaction is expected to close in the first quarter of 2022.

BLG is acting as Canadian counsel to The New York Times Company, with a team led by Neil Hazan and including Cassandra Florio, Joseph Takhmizdjian, Denes Rothschild, Sonia Mak, Jennifer Fantini, Kimberley Gosel, Wesley Lui, Katherine Stanger, Jordan Kay, Valérie Olivier, Danielle Windt, Sunny Garcha, Edmond Lo, Samantha Stepney, Jacky Wong and Brad Freedman.