Sports site Bleacher Report is in the process of selling itself to Turner for ~$200 million, it has been reported and we can confirm.
One reason why: in a year when most ad-supported online outlets have seen a disappointing sales, Bleacher Report has not.
According to one source close to Bleacher Report, the site is on track for $40 million revenues in 2012.
That’s a lot of money for a news site!Blog
For some context: The Huffington Post didn’t have those kinds of revenues when it sold to AOL for $315 million, for example.
(If our source isn’t exaggerating; he is close to the company that’s selling, after all.)
Those revenues make it easy for Turner to pull the trigger.
Another reason, pointed out by Peter Kafka at AllThingsD: Turner lots tons of sports inventory when it gave up Sports Illustrated before this Spring. It sells NBA.com inventory but it doesn’t own it. It is about to lose PGA.com’s inventory.
Another interesting tidbit: We’ve heard that some of BR’s cofounders were reluctant to sell the company and wanted to try expanding into new verticals.
Investors essentially said to them: are you nuts? That’s a lot of money!
And yeah, it is.