Turner Broadcasting System Inc (NYSE:TWX), part of of US media and entertainment group Time Warner Inc (NYSE:TWX), said it had purchased online sports media content provider Bleacher Report (B/R), in a move to further boost its sports offering.
David Levy, Turner Broadcasting’s president of sales, distribution and sports, sees the acquisition as strategic, pointing out in a comment that Bleacher Report’s fast growth to a top marketplace position and a valued consumer destination was attractive to a brand builder and content provider such as Turner Broadcasting.
Turner will use its vast digital rights and resources to ensure that Bleacher Report would continue its growth, Levy went on saying, adding that the acquisition allows Turner to provide integrated opportunities to advertisers on all screens and demos, ensuring increased ability to monetise sports programming all through the year.
Bleacher Report was launched in 2008 in San Francisco. Its mobile offerings will become part of Turner Sports division. The acquired site provides sports editorial content and has more than 10m unique visitors monthly.
Turner Broadcasting used the advisory services of Willkie Farr & Gallagher LLP, while Bleacher Report was advised by RBC Capital Markets and Latham & Watkins LLP in this deal.
The financial terms of the transaction were not made public.