Sports Illustrated Deal
Time Inc.'s Sports Illustrated Group has acquired Web site FanNation.com from Sports Technologies Inc.
FanNation.com is a Web destination that aggregates, filters and customizes sports information and allows users to generate their own content.
Sports Technologies develops Web 2.0 applications that include news aggregation, community capabilities and fantasy game engines.
As part of the agreement, Time Inc. will acquire a minority interest in a newly formed subsidiary of Sports Technologies, which will own the remaining assets not sold to Sports Illustrated.
FanNation.com delivers information to sports fans, fantasy game players and bloggers. The site enables sports fans to track players, create blogs, join groups, comment on news and follow their favorite teams.
Time Inc. plans to further enhance the engagement of its online audience through the acquisition. Sports Technologies will be deployed first by the SI Group, but soon thereafter across other major Time online properties.
Financial terms of the agreement were not disclosed.
Sports Illustrated has a weekly audience of nearly 21 million adults and the magazine's Web site at www.sportsillustrated.com generates more than 150 original stories per week.