Turner acquires Bleacher Report for $175 million

MUMBAI: Turner Broadcasting System has acquired San Francisco-based Bleacher Report, one of the fastest growing sports digital properties on the Internet, for an estimated $175 million.

B/R (bleacherreport.com) and its popular mobile offerings will now operate as part of the Turner Sports division, Turner Broadcasting president of sales, distribution and sports David Levy said.

Turner Sports currently manages digital properties on behalf of the NBA, NCAA and PGA, oversees ad sales for NASCAR.COM and has a strategic sales relationship with Yahoo! Sports. B/R will complement a preeminent collection of brands within the Turner Digital portfolio spanning entertainment, sports, kids, news and comedy destinations across broadband, mobile and tablet.

"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 Levy.

"As brand builders and content providers, we were attracted to Bleacher Report‘s fast growth to a leading marketplace position and a valued consumer destination. The site will continue to innovate and provide users and sports fans with branded news and information. With our expansive digital rights and resources, Turner will further ensure Bleacher Report‘s continued growth and success."

Levy added, "With the acquisition of Bleacher Report, we have added another dimension to our portfolio of digital and mobile properties that will enable us to offer our advertising partners integrated opportunities across all screens and demos that will enhance our ability to monetise sports programming throughout the entire year."

B/R CEO Brian Grey will continue to oversee B/R‘s day-to-day operations out of its San Francisco offices and will report directly to Lenny Daniels, executive vice president and chief operating officer of Turner Sports. Together, Grey and Matt Hong, senior vice president and general manager of operations for Turner Sports, will partner in the overall management and integration of the Bleacher Report operations into the Turner Sports portfolio.

Dave Finocchio, founder and chief content & product officer, Bleacher Report & vice president, Turner Sports; Sam Parnell, chief technology officer, Bleacher Report & vice president, Turner Sports and Rich Calacci, Chief Revenue Officer, Bleacher Report & senior vice president, Turner Digital Ad Sales will all stay on board within their expanded roles.

"Bleacher Report was created to put fans first, and we are excited to integrate our innovative content publishing model and engaging multi-platform consumer digital media experience within Turner Sports‘ world-class television and digital content portfolio," said Brian Grey, in his newly-expanded role as chief executive officer, Bleacher Report & senior vice president, Turner Sports.

"Together the portfolio will define how content creators, consumers and marketers come together around the sports team and topic content experience that fans will consume across every screen."