Bleacher Report, one of the largest sports news sites on the Web, was acquired today by Time Warner Inc.- Turner Broadcasting System’s division.
The San Francisco-based startup focuses on delivering targeted sports news to about 10 million unique users a month. Nearly 26 million people visited in January alone for the latest insights into their favorite team. But unlike many sites whose content is written by a limited in-house staff, Bleacher Report relies on a wide network of mainly volunteer contributing writers around the country and the world who are passionate about the teams they love and who pen opinion and reaction pieces at a heavy pace in exchange for a prestigious slot on the site.
Time Warner, owner of cable networks CNN, TBS, and TNT and manager of NBA.com and PGA.com will place Bleacher Report side-by-side with said properties.
“[We] were attracted to Bleacher Report’s fast growth to a leading marketplace position and a valued consumer destination,” Levy said in a statement.
Terms of the deal were not released. But rumors say that the deal closed for less than $200 million. Bleacher Report CEO Brian Grey, a veteran of Yahoo Sports, will remain in that role and will add the new title of senior vice president for Turner Sports.
Via »CNN Money