Think of it as the AOL-Huffington Post deal of the sports journalism world.
The Bleacher Report, a brash San Francisco-based startup powered largely by unpaid editors, writers and interns, has finally been acquired by Turner Broadcasting. Various reports peg the purchase price at between $175 million to $200 million. Either way, it’s a home run for the site’s creators.
Six years after founding a website meant to offer sports fans a place to talk about their favorite teams, four Menlo High School graduates have sold the product…
The cofounders – Dave Finocchio, Bryan Goldberg, Dave Nemetz and Zander Freund – have worked to legitimize the site in the past few years, pulling in at least $39 million worth of venture capital and hiring executives from larger, more established properties. Brian Grey left Fox Interactive to become CEO, and brought in a chief finance officer from Demand Media and chief revenue officer from CBS Interactive.
Finocchio will add a Turner Sports vp title to his current chief content officer and product officer responsibilities as he seeks to help TBS fill the online void left by last year’s return of SI.com to parent company Warner.
Previously on FishbowlLA:
Bleacher Report on the Verge of Ideal Exit Strategy
- Report: Bay Area Media Mogul Set to Add Non-Controlling Interest in GLBT Weekly
- Will 500,000 Signatures Put a Dent in Koch Brothers Plans?
- This Just In: Sportswriters Have No Idea Where Dwight Howard Will Be Playing Next Season
- Former LA Times Staffer Would Welcome Koch Brothers Ownership