The BleacherReport.com has been sold to Turner Broadcasting for $175 Million dollars.
The site was started just 6 years ago by four high school friends .
The Wall Street Journal reported the price as “about $175 million.”
TimeWarner owns Turner which own some other great properties including Golf.com and manages other sports sites like NBA.com and PGA.com
The site had 10.1 million unique visitors in June, up from 7.9 million a year earlier, according to comScore. That places the site in the top 10 sports sites, which are led by Yahoo Sports with 42 million unique visitors in June.
“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,” David Levy, president of sales, distribution and sports of Turner Broadcasting, said in the release.
Funny…I like sports and am generally aware of news sites on the subject, but yet I’ve never heard of bleacherreport.com and it just sold for $175 million. Alot of hot cash floating around out there searching for yield.
So that’s about $17.5 million per million visitors. That’s better than Huffington Post did, at about $12.6 million per million visitors.
Exceptionally nice sale, and congrats to the kids who started it.
They (BleacherReport.com) churn out new sports articles like every minute. Opinions on trade rumors, GM moves, etc, etc. The writing isn’t top-notch but are well thought out at about the level of an educated fan. A lot of message board posters of the various sports fan sites do that for free… These guys found a way to monetize that big time. Very nicely done.
They had over 2,000 independent writers. Not sure if they were paid or free writers, but its easy to generate content and traffic when you get 2,000 people churning out the articles.
Nice exit price!