Yahoo Snaps Up Rivals for Sports Lineup

The much-rumored deal for Rivals.com finally took place, with Yahoo reportedly paying $100 million for the college and high school information site. People who desperately need to know who will be the fourth-string tailback for the old U coming out of spring football camp will find their Rivals.com fix has become part of Yahoo.

The announcement of the purchase said Yahoo has picked up about 2 million visitors who hit the Rivals network of sites each month. It also gives Yahoo another social network, this time one comprised of die-hard sports fans who participate in Rivals.com communities.

"For those of you wondering how our recent management changes will impact our media operations here in Santa Monica, this deal should give you an indication that we’re going full steam ahead," Yahoo Sports general manager Jimmy Pitaro said on Yahoo's official blog.

The Santa Monica operation had been implemented by ex-CEO Terry Semel, who brought in Lloyd Braun to head up Yahoo's media operations near Hollywood. Pitaro's comment indicated Yahoo isn't pulling the plug on Santa Monica yet.

Paid Content said the purchase price ended up being in the neighborhood of $100 million. Yahoo has not confirmed specific details about the price of Jerry Yang's first deal as CEO.

http://www.webpronews.com/topnews/2007/06/21/yahoo-chooses-rivals-for-sports-lineup