Time Warner's Turner Broadcasting has purchased sports website Bleacher Report for a reported $175 million, according to reports.
The acquisition was approved by the Federal Trade Commission on Aug. 3, Bloomberg News said, and allows Turner to get back into the sports website business after losing control of SI.com and Golf.com to Time Inc.
Bleacher Report, which averages approximately 9 million unique visitors a month, has seen rapid growth under Chief Executive Officer Brian Grey, though it continues to be criticized for its editorial strategy. The company's content is heavily influenced by search engine optimization, which means lots of slide shows of attractive females. Bleacher Report has tried to hire more experienced writers to offset the thousands of unpaid contributors to some success.
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The San Francisco, Calif.-based company has raised $40 million in venture capital and is on target to generate $30 million to 40 million in revenue this year, according to Business Insider.
Bleacher Report's Grey is expected to remain with the company.
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