As Expected, Turner Broadcasting Acquires Bleacher Report
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.
From Jeremy C. Owens of the San Jose Mercury News:
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.
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