Viacom Completes Acquisition of SportsLine.com
Posted on January 3, 2005
Viacom Inc. announced that it has finalized its acquisition of SportsLine.com, one of the industry's leading online sports media companies. The transaction, which was originally announced on August 2, 2004, was approved by shareholders of SportsLine.com, and public shareholders will be entitled to receive $1.75 per share in cash. The company will operate as a division of CBS Sports, reporting to Sean McManus, President, CBS Sports.
"We're extremely pleased to officially welcome SportsLine into the Viacom CBS family," said McManus. "With this acquisition now complete, we can move ahead full force in integrating SportsLine.com's rich, comprehensive Internet content into the framework of CBS Sports, which already includes top franchises like the NFL, NCAA Final Four, PGA, The U.S. Open and the Masters."