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Time Warner Acquires Sports Site Bleacher Report

Radford C. Aug 6, 2012 0

Bleacher Report Screenshot

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