Time Inc. Acquires Sports and Lifestyle Network FanSided
Deal grows out of a two-year partnership between the two companies.
Time Inc. has turned a two-year partnership with sports and lifestyle network FanSided into a full-on acquisition. The company announced today that it bought the network of 300 websites, which collectively reach an average of 15 million monthly unique visitors.
Terms of the deal were not released. As of now, FanSided counts more than 1,500 contributors to its network.
FanSided also has a mobile app and personalized newsletter that is gaining traction with millennials. Mobile traffic accounts for more than half of FanSided's overall traffic.
Time Inc. says that FanSided co-founders Adam and Zach Best, along with partner Matt Blake, will continue to manage the business as a division of Sports Illustrated Group. It is unclear whether Time Inc. will retain all of FanSided's staff, considering there will likely be editorial cross-overs between the two brands. FanSided did post a story to its site today, stating it will retain its "core team."
This is not a new partnership for Time Inc. Earlier this year, the company, along with 120 Sports, began syndicating videos across the FanSided network.
Sports Illustrated is also expanding into new categories such as fitness and adventure sports, which overlaps with FanSided’s contributor community that also covers men’s lifestyle and entertainment. Sports Illustrated will not be the only brand to tap into their content, as FanSided mentioned they will be a sibling brand to other Time Inc. titles like Entertainment Weekly and People.
“This deal is the latest in a series of new products and programs set to roll out from the Sports Illustrated Group, which looks to be very active throughout 2015,” says an internal memo to employees from CEO Joe Ripp and EVP Evelyn Webster.
We will have to wait and see what the group has in store for the remainder of the year but in the meantime, FanSided promised their fans there are no "immediate plans to change the way you [the readers] currently access and use our FanSided sites."
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