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Oak, Crosslink, Hillsven exit digital sport company Bleacher Report

7 Aug 2012

Venture-backed digital sports media provider Bleacher Report has been bought by Turner Broadcasting to add to its TV and online sports division.

Oak Investment Partners, Crosslink Capital and Hillsven Capital are all investors in the company, which has more than tenmillion unique users a month for its editorial content.

The company received $22m of venture investment last August to expand the business and build its content and revenue support teams.

Oak chairman Fred Harman took a seat on the board as part of that investment.

He said at the time, “It has been a long time since we have seen this type of growth in the sports content space with an independent multi-sports media company competing and surpassing some of the giants.

“We’re excited to help Bleacher Report continue its growth as a game changing brand in social media focused on the rapidly evolving sports landscape while also exploring the many opportunities to replicate its highly successful publishing model into other verticals where content consumption and creation is driven by passion and social engagement.”

New owner Turner’s president of sales, David Levy, said, “Bleacher Report is a strategic acquisition that further enhances Turner’s portfolio of sports offerings, as well as reflects our continuing commitment to bring fans greater content across all screens throughout the entire year.

“As brand builders and content providers, we were attracted to Bleacher Report’s fast growth to a leading marketplace position and a valued consumer destination. The site will continue to innovate and provide users and sports fans with branded news and information.

“With our expansive digital rights and resources, Turner will further ensure Bleacher Report’s continued growth and success.”

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