Updated at 11:30 a.m. PT with confirmation of the deal.
[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":504099,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"entrepreneur,media,","session":"D"}']Time-Warner-owned Turner Broadcasting has purchased popular sports site Bleacher Report, the company announced today. While the price tag is unknown, the Wall Street Journal reports it’s around $175 million.
San Francisco-based Bleacher Report is the third most popular sports site on the web behind ESPN and Yahoo Sports. comScore reports say the site attracts 9 to 10 million unique users each month. It reportedly generates $30-40 million each year, an impressive number for its audience size.
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The purchase will give Time Warner, owner of cable networks CNN, TBS, and TNT and manager of NBA.com and PGA.com, a strong sports presence on the web. Bleacher Report’s content could be spread out across Time Warner’s other properties as needed.
Bleacher Report has raised about $40 million in funding since it was founded in 2006. Investors include Oak Investment Partners, Crosslink Capital, and Hillsven Capital.
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