CBS Sports Digital said it has signed a definitive deal to acquire the assets of Scout Media, the bankrupt sports-video site that runs team-specific sites for pro and college teams in major sports.
Terms were not disclosed, but CBS previously submitted a $9.5 million “stalking horse” bid for the sports-video site.
Three creditors had filed suit in November, trying to force the cash-strapped company into bankruptcy.
In July, it was hit by high-level turnover in the executive suite and a defection of many of its senior producers. That, in turn, appeared to hurt its traffic numbers for the rest of 2016.
A team of Russian investors had appeared in 2015 when earlier backers balked at putting in additional funds. Co-founder James Heckman was forced out in July amid claims of financial impropriety — claims which Heckman denied.
Heckman had started the site in 2001 before selling to Fox Sports in 2005 for $60 million. He teamed up with Bob Pittman’s North American Media Group, which acquired the site in 2013 and installed Heckman again as CEO.
CBS did not comment on terms of its agreement.
“We are very pleased to bring Scout Media into the CBS Sports Digital family and add their portfolio of team coverage to our premium, team-focused content offerings driven by 247Sports,” said Jeffrey Gerttula, senior vice president and general manager, CBS Sports Digital.
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