TBS has confirmed that Time Warner’s cable networks have agreed to purchase Bleacher Reportfor about $175 million, according to a person familiar with the matter. The division will become a part of the Turner Sports division which currently manages digital properties on behalf of the NBA, NCAA and PGA, and it oversees ad sales for NASCAR.COM as well as a strategic sales relationship with Yahoo! Sports.
According to Bloomberg, the acquisition was approved by the Federal Trade Commission on Aug. 3, according to regulatory documents. The person with knowledge of the transaction asked not to be identified because the terms aren’t being disclosed.
via Tech Crunch