User-Generated Content Site Bleacher Report May Fetch $200 Million
After ending its relationship with Sports Illustrated last spring, Turner is rumored to be in negotiations with Bleacher Report. Sources have claimed that the five-year-old sports site, which sees 9 million visitors every month, may be bought out for more than $200 million.
A deal between Turner and Bleacher Report is being worked out and may be announced this month, according to an anonymous source interviewed by AdAge. Rumors regarding the deal have also appeared on AllThingsD and Business Insider.
“Bleacher Report, which has raised $40 million in venture capital since its arrival in 2007, seems to be the latest new-media upstart to make good on user-generated content, although contributors do need to pass an application process, combined with search-engine optimization, slideshows and the occasional photos of scantily-dressed women,” says Jason Del Rey of AdAge.
Since its inception, Bleacher Report has made more money each year. In 2010, writes Rey, the site saw a profit of $5 million. This year, it’s projected to make $30 million.
According to the Associated Press, “The purchase would enable Turner to sell ads to a broader sports-focused audience and could help boost online traffic and network viewers.”
Turner already owns NBA.com, PGA.com, NASCAR.com, and MLB.com, so Bleacher Reporter would give it more power in the world of sports.
If the acquisition is completed, it would be the fourth major change-up in sports media this summer. CBS Sports Radio plans to launch in early 2013, and NBC also announced plans to dive into the world of sports radio soon as well. Turner’s former partner, Sports Illustrated, will premiere its new show on NBC Sports Network at the end of July.