Yahoo to acquire sports network Rivals.com
Yahoo is buying Rivals.com, an online network catering to fans of college and high school sports, a move that aims to place Yahoo at the helm of US sports market.
Since it was founded in 2001, Tennessee-based Rivals.com has built up an avid fan base of hardcore sports enthusiasts, operating on 105 college team sites and about 48 regional high school sites. To date, Rivals have more than 180,000 subscribers who regularly track local sports through the site.
“We are very serious about leading in the media space,” said Scott Moore, senior vice president for news and information at Yahoo. “This deal will help us connect with the college and high school sports fan.”
Besides bringing Yahoo a base of 2 million to 2.5 million fans of high school and college football and basketball, the deal is also one of the series of developments that analysts are expecting from Yahoo, following the management changes that happened this week.
The financial aspects of the deal was not disclosed but sources say that Yahoo brought it up to around $100M.
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This is potentially a great buy. The price is not to high and the audience is already being delievered. Hopefully Yahoo does not mess it up.
By Butler on June 21, 2007 10:44 am
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