Comcast Ventures and BDMI are set to record profitable exits through the deal, showing the new models of digital media can still make for inviting investments.
Media company The New York Times has agreed to purchase US-headquartered online sports media platform The Athletic in a $550m deal allowing media group Bertelsmann and mass media company Comcast to exit.
The transaction represents a profitable exit for all the company’s investors and marks a contrast with the fortunes of the previous wave of digital media companies, which focused on a free-to-read business model and which have seen their valuations decline in recent years.
Founded in 2016, The Athletic…
