Turner Broadcasting System, Inc. Acquires Bleacher Report
Turner Broadcasting System, Inc. has acquired Bleacher Report (B/R), one of the fastest-growing sports digital properties on the Internet. San Francisco-based B/R and its mobile offerings will now operate as part of the Turner Sports division.
B/R delivers original sports editorial content while registering over 10 million monthly unique visitors. The company has developed a next-generation publishing model powered by an expanding base of passionate and knowledgeable contributors who deliver high-quality content that readers crave at the team and topic level.
“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 David Levy, president of sales, distribution and sports of Turner Broadcasting. “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.”
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.
“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 monetize sports programming throughout the entire year,” said Levy.
On the transaction, Turner Broadcasting was advised by Willkie Farr & Gallagher LLP and Bleacher Report was advised by RBC Capital Markets and Latham & Watkins LLP.
“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.”