CBS Corp.’s digital arm has acquired 247Sports, a collection of team-specific digital outlets, and will make it part of its CBSSports.com collection of assets.
Terms of the deal were not disclosed and could not be immediately learned. The acquisition comes as more traditional media companies attempt to harness content that is of interest to sports aficionados. CBSSports.com already offers a broad selection of fantasy-sports play, for example. Time Warner’s Turner Broadcasting paid $170 million in 2012 for Bleacher Report, an online sports-news site.
247Sports was founded in 2010 and was initially subscription-based. In 2015, the site distributes content related to 75 different U.S. teams involved in professional and college football and basketball. It relies on the work of a coterie of staffers, many of whom are focused on coverage of the recruiting of athletes.
CBS already had a working relationship with 247. In 2013, CBS Sports Digital began using content from 247Sports in CBS Sports’ coverage across digital platforms. CBS Sports Digital also became the exclusive advertising sales partner for 247Sports.
“247Sports’ individual team focus and expertise in the recruiting space will bolster our coverage of the full spectrum of sports from preps to pros, and enable us to deliver more value to sports fans through expanded editorial coverage and product enhancements,” said Jeffrey Gerttula, senior vice president and general manager, CBS Sports Digital,” in a prepared statement. “Our combined advertising model will also allow us to create compelling new sponsorship opportunities across screens.”
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