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SEATTLE — Online sports network Rival Networks is shutting down and laying off about 80 remaining workers after attempts to secure a last-minute sale of assets failed, the company said.
In an announcement Tuesday, the Seattle-based company said it was shutting down because of “unfavorable market conditions.” Rival Networks, which operates about 600 sports team-specific Web sites, raised more than $70 million from private investors including Softbank and Intel. Some of the team Web sites include coverage of the New England Patriots and the Chicago White Sox.
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