Time Warner Inc. (NYSE: TWX) has acquired the sports news website The Bleacher Report through its Turner Broadcasting division. According to the Wall Street Journal, Turner Broadcasting paid approximately $175 million dollars for the website.
Turner is buying The Bleacher Report in an attempt to add to its already impressive sports media portfolio. The division currently manages two other flagship sports websites: basketball's NBA.com, and golf's PGA.com. Turner Broadcasting is known primarily for its television stations, such as CNN and TBS.
The Bleacher Report was founded in 2006 and is viewed by over 10 million unique visitors a month.