Turner Buys Bleacher Report
I’m told the deal, which we told you about in June, closed Friday, and is scheduled to be announced today.
Picking up Bleacher fills a hole for Turner’s digital operations, which lost control of SI.com and Golf.com to corporate cousin Time Inc. last quarter.
The interesting question will be price: Bleacher Report raised a reported $40 million in venture funding, and was angling for an exit above $200 million. But that’s a lot of money for 10 million monthly visitors. More when I get it.
Update: “Just under $200 million”, says Bloomberg’s Edmund Lee.