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AllThingsD's Peter Kafka reports that The New York Times Company is trying to unload the site which totally mucks up your search results to While the purported price may sound like a lot, keep in mind that The Times initially paid $410 million in 2005 for the content farm which is at least a $140 million hit. "The question-and-answers site has signed a letter of intent to buy About for $270 million, according to people familiar with the transaction," he writes. "The deal hasn’t closed yet, and I’m told that Answers’ backers — PE firms Summit Partners and TA Associates — are trying to line up financing." Despite its hefty price tag (about a fourth of an Instagram) has been a thorn in the side of The Times Co.'s earnings: As we noted in February, the site had a 67 percent drop in profits, and again in April we detailed the About's 23.1 percent drop in overall revenue.

Update, 1:35 p.m.: The New York Times Company confirms the discussion in a release.

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