Turner Broadcasting Acquires San Francisco-Based Bleacher Report

San Francisco -- Following two months of speculation about a possible deal, Time Warner's Turner Broadcasting said on Monday it has acquired San Francisco-based Bleacher Report, a publisher of original sports editorial content that attracts more than 9 million monthly visitors. Financial terms of the deal were not disclosed, though several published reports pegged it at just under $200 million. The deal significantly boosts Turner's presence in the online sports arena. Turner previously had managed the web site of Sports Illustrated, but ended that deal earlier this year with the hopes of launching its own branded sports site. "Bleacher Report is a strategic acquisition that further enhances Turner's portfolio of sports offerings, as well as reflects our continuing commitment to bring fans greater content across all screens throughout the entire year," said David Levy, the president of sales, distribution and sports at Turner Broadcasting. Brian Grey will continue as Bleacher Report's CEO, as well as senior vice president of Turner Sports.
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http://www.timewarner.com/newsroom/press-releases/2012/08/Turner_Broadcasting_System_Inc_Acquires_Bleacher_Report_08-06-2012.php