Yahoo! acquires Rivals.com

21 June 2007

Leading global internet company Yahoo! has entered into an agreement to acquire Rivals.com, an online destination for college and high school sports.

The announcement comes just days after co-founder Jerry Yang was unveiled as the company's new chief executive, replacing former CEO Jerry Semel.

According to reports, the acquisition will bolster the company's sports offering, as well as preventing News Corp from taking a 25 per cent stake in the firm.

Around 185,000 subscribers currently use Rivals.com, paying around £5 to benefit from the site.

Rivals.com's chief executive officer, Shannon Terry, wrote on the site: "Partnering with Yahoo! will help us build the next generation of Rivals' products and services for hardcore and casual sports fans, and allow us to reach an entirely new fan base."

Ms Terry added that users could expect "an even better experience in the future" and that the site would be able to provide more products and services to cater for true sports fans.

Category: Yahoo