Yahoo buys college sports site Rivals.com
29 June 2007 College sports website rivals.com, has been
acquired by Yahoo, the US internet giant, thus marking the
first move of the company's new CEO. Yang took over the post
of CEO after the sudden exit of predecessor Terry Semel,
raising question marks over the internet firm's direction.
The deal value of the transaction was not disclosed.
There have also been reports that News Corp is looking to
acquire a 25% stake in Yahoo, which is another headache that
the new CEO of Yahoo has to face.
It is expected that the acquisition of Rivals.com will boost
Yahoo's US sports offering. The site reports on American
football, basketball and other sports in more than 100
colleges and universities as well as focusing on high school
sporting prospects.
The main competitor of Rivals.com is Scout.com, which was
bought by News Corp for $60m last year.
Users of the Rivals website, which has about 185,000
subscribers, pay about $10 (£5) a month to access
information on results, drafts and scholarships. Though the
growth of Yahoo's main rival Google has been steady and
fast-paced, Yahoo still generates more advertising revenue
than any other internet search firm except Google, and has
more than 500 million worldwide users.
Almost 15 million people visited Yahoo's sports section last
year.
|
