Cable Technology Feature Article
Turner Broadcasting System Acquires Sports Website Bleacher Report
By Tanya Palta, TMCnet Contributing Writer
Turner Broadcasting (News - Alert) System recently announced its acquisition of the sports news website, Bleacher Report for an estimated $175 million. The buyout is seen as a strategic move on Turner Broadcasting System’s part, as it will help the company sell more advertisements and also cover the cost of sports programming.
Over the next few weeks, Bleacher Report will get a significant overhaul in regards to its multimedia content. According to David Levy (News - Alert), Turner president of sales, distribution and sports, the acquisition has also delivered a channel for highlight videos and news regarding sports that has been telecast on TBS and TNT first. This includes professional basketball, baseball, auto racing, golf and the NCAA March Madness college basketball tournament. "Not only will you get an incredible article written, you might also get video now," he said.
"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," added Levy.
Under the new deal, B/R CEO Brian Grey will continue to oversee B/R's daily operations and will report directly to Lenny Daniels, executive vice president and chief operating officer of Turner Sports. Turner Sports is already handling digital properties on behalf of the NBA, NCAA and PGA, supervises ad sales for NASCAR.COM and also has a tactical sales relationship with Yahoo! Sports.
"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.
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Edited by Brooke Neuman