Time Inc. Acquires 3 Firms to Form Sports Illustrated Play - Analyst Blog
Time Inc. TIME announced that it has acquired three digital sports companies to lay the foundation of Sports Illustrated Play. This new segment, which is an extension of Time’s prominent magazine Sports Illustrated, will cover the youth and amateur sports sector.
Of the three acquired firms, League Athletics and SportsSignup offer digital management tools that help in checking game scores, schedules and statistics. These online tools also enable participants to register and communicate on a regular basis. These two firms serve over 8 million players, parents, coaches, administrators and other youth sports participants, comprising more than 8,500 leagues and 300,000 teams.
The company’s third buyout is iScore that operates an app that enables users to track play-by-play coverage of different sports like baseball, basketball and soccer.
Time Inc. expects these acquisitions to establish its position in the youth sports segment of America that has an estimated population of about 30 million athletes.
Concurrently, Time Inc. also acquired inVNT, an experiential company. Formed in 2008, inVNT specializes in live media, digital and traditional media, brand environments and creative services. Time Inc. expects to reach its target audience through this live media route. Financial details of these four deals were not disclosed.
We note that, ever since Time Inc. spun-off from Time Warner Inc. TWX in 2014, the company has been expanding and diversifying its brands and content through acquisitions. Earlier this year, it acquired FanSided, a Missouri-based sports, entertainment and lifestyle network company. Other acquisitions include, UK Cycling Events, the leading organizer of top cycling events in UK.
We believe Time Inc. will continue to pursue acquisitions and deals to boost its portfolio. Other players in the same space include Meredith Corp. MDP and Martha Stewart Living Omnimedia Inc. MSO.
Time Inc. is a Zacks Rank #3 (Hold) stock.
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