Yahoo Acquires Rivals
Yep, Yahoo acquires rivals . . . but Yahoo didn’t swallow up Google and MSN. They bought Rivals.com, a college sports site. Rumors about this have been flying since April, and now it appears that they’ve been confirmed.
paidContent reports that the price was $100M, though the terms will not be officially disclosed.
Jimmy Pitaro, Yahoo Sports’ General Manager, was naturally enthusiastic about the deal, stating that “Rivals.com will perfectly complement Yahoo! Sportsâ€™ editorial coverage â€” the work of its 200 on-the-ground local writers, reporters, and publishers meshes well with what weâ€™re doing at the national level.”
Pitaro also touched on the larger Yahoo issue:
Oh, and by the way, 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 weâ€™re going full steam ahead.
Oh, the whole company is going full steam ahead. But where are they going?