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SportsLine pays $31 mil for fantasy sports supplier

Published on .

SportsLine.com, Fort Lauderdale, Fla., has purchased Daedalus World Wide Corp., New York, a developer of fantasy sports games and producer of SportsLine's Commissioner.COM fantasy products. SportsLine paid $31 million for DWWC, roughly $27 million in stock and $4 million in cash. It agreed to issue additional stock if certain revenue and/or subscription goals are met. DWWC will renamed Commissioner.COM; it will be run as a separate subsidiary of SportsLine.com, headquartered in New York. SportsLine has also entered into a long-term relationship with Internet Sports Network, another game developer that makes Internet-based sports entertainment and investment contests, fantasy leagues and promotions.

Copyright December 1999, Crain Communications Inc.

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