Aug 6 Time Warner Inc said its Turner
Broadcasting unit has bought sports website the Bleacher Report
to bulk up the media company's Internet sports presence, which
includes websites such as NASCAR.com and NCAA.com.
Terms of the deal were not disclosed but a source close to
the matter who was not authorized to speak publicly about it
said Time Warner is paying under $200 million for the San
Francisco-based company. The sports website will now operate as
part of Turner's Sports division, the company said in a
Bleacher Report publishes more than 1000 articles a day on
its website, which drew 10.1 million total unique visitors in
June, according to ComScore. Bleacher Report was the ninth-most
visited sports website in June in the United States in terms of
total unique visitors, according to ComScore data. The top U.S.
sports website is Yahoo Sports!, followed by ESPN.
Bleacher Report had raised $40.5 million in venture funding
to date and was backed by firms such as Crosslink Capital and
Oak Investment Partners.
In November 2011, Turner said it would hand over the
business operations of Golf.com and Sports Illustrated's
website, SI.com, back to Time Inc, the company's publishing
division, in a process that took several months. The company
said on a conference call last Wednesday that its cable networks
division's advertising revenue saw its growth hurt partly by
"the shift of management of our digital sports properties,
SI.com and Golf.com, back to Time Inc."
Turner also shares broadcast rights to the NCAA Division I
Men's basketball tournament with CBS Corp and has a deal
to manage NCAA.com's website until 2024.
Time Warner shares rose 10 cents to $41.48 shortly after