The New York Times acquires online consumer guides

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Just like other traditional media companies, The New York Times has struggled to stay relevant in the digital age. After suffering shrinking revenues for two consecutive quarters, the company has bought two new revenue streams to offset its loses. Last week, the company announced that it acquired product recommendation websites The Wirecutter and The Sweethome for over $30 million. Founded by former Wired and Gizmodo editor Brian Lam, The Wirecutter and The Sweethome recommend electronics and gadgets that users can click on to purchase. The websites earn revenue by getting a commission for every successful sale. According to analysts, this style of product advertising is quickly becoming the norm and should help The New York Times adapt to a new advertising revenue model.

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