No specifics of the sale price were disclosed but industry sources said it could be upwards of $400 million.
The sale also includes GolfDigest.com and several golf schools.
Russell T. Lewis, president of The New York Times Co., said the would, 'allow us to focus our resources on our larger businesses.'
New owner Advance Publications publishes well-known magazines such as Vogue, Glamour and Vanity Fair.
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