Turner Broadcasting said today that it acquired Bleacher Report to broaden the scope of sports coverage it can offer advertisers as well as bolster its scale, which has significantly decreased in recent months.
"We have NASCAR and NBA," said David Levy, president of sales, distribution and sports for Turner. "And now we can have a reach in sports like baseball."
"This adds to our ability to monetize sports rights across all through screens throughout the entire year," Mr. Levy added.
Turner, part of Time Warner , said on Monday that it had bought Bleacher Report, a sports-news website where thousands of primarily unpaid contributors post more than 1,000 articles a day. Terms were not disclosed but the price fell below $200 million, according to a person close to the deal.
The acquisition comes after Turner's deal to sell digital ad space for Sports Illustrated ended and its digital partnership with the PGA Tour approaches its completion. Turner also gave digital control back to Nascar, but retains the rights to handle digital ad sales for the organization through 2016. Turner also has a partnership with NBA and NCAA.
Mr. Levy said Bleacher Report's strength in team sports also made it an attractive acquisition.
Bleacher Report founders Bryan Goldberg, Dave Finocchio and Dave Nemetz will remain at the company. CEO Brian Grey will retain his title. The site was founded in 2006 and boasts about 10 million visitors a month. It has raised $40 million from venture capitalists.