Credit: Shutterstock photoTime Inc.TIME announced that it has acquired FanSided, a Missouri-based sports, entertainment and lifestyle network company. The acquisition will give Time Inc. access to FanSided's digital networks platform, enabling the former to expand its coverage. Financial details of the agreement were not disclosed.
Formed in 2009, FanSided network consists of over 300 websites and online communities, focused on sports, entertainment and lifestyle related content. With an estimated 15 million unique visitors and 50 million page views per month, FanSided is one of the fastest growing firms in the industry. Apart from the websites, FanSided also has a mobile app and personalized digital newsletters.
Time Inc. has decided to incorporate FanSided with Sports Illustrated, one of its prominent magazines. This integration will expand Sports Illustrated's local sports coverage while allowing it to reach new customers. Moreover, Time Inc. stated that it plans to boost its brand portfolio using FanSided's entertainment and lifestyle segments in the future.
We note that ever since Time Inc. has spun-off from Time Warner Inc. TWX in 2014, the company has been expanding and diversifying its brands, content and audiences through acquisitions. Earlier this year, it acquired UK Cycling Events, the leading organizer of top cycling events in UK. Other acquisitions include the Cozi acquisition, which is a technology company that helps families stay organized.
We believe Time Inc. will continue pursuing acquisitions and deals to boost its portfolio. Other players in the same space include Meredith Corporation MDP and Martha Stewart Living Omnimedia Inc. MSO .
Time Inc. is a Zacks Rank #2 (Buy) stock.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
