About.com up for sale

Primedia, the publishing company owned by Kohlberg Kravis Roberts & Co., has put the Web site About.com on the block, and five companies plan to bid on it, according to executives close to the auction.

Final bids are due today, and the asking price is $350 million to $500 million, they said.

The bidders that plan to submit final offers Tuesday are Google, Yahoo, The New York Times Company, the AOL unit of Time Warner and Ask Jeeves, the executives said. The auction process has been under way for at least a month and is being managed by Goldman Sachs, the executives said.

(via CNET)