Minute Media, a New York-based digital media conglomerate, has continued its aggressive run of dealmaking, acquiring FanSided from the Meredith Corp.
FanSided, a platform of sports and lifestyle digital media properties, had previously operated under the Sports Illustrated umbrella, and had been acquired by Meredith in that company’s early 2018 takeover of Time Inc. Terms were not disclosed, though the New York Post reported the deal was worth about $15m.
The transaction extends a growth wave for Minute Media, which late last year also acquired athlete-driven digital media platform The Players’ Tribune. Minute Media also controls soccer specific-site 90min.com, general sports destinations 12UP.com and The Big Lead, and esports content property Dbltap, among others.
With this breadth of assets, Minute Media typically ranks among the top 10 most heavily trafficked US sports digital properties.
“FanSided’s approach to community and fandom is a perfect complement to Minute Media’s existing properties,” said Asaf Peled, Minute Media founder and chief executive. “FanSided, combined with The Players’ Tribune’s athlete-perspective, provides our readers, partners, and advertisers with what we believe to be the most well-rounded and holistic sports offering.”
FanSided, like Sports Illustrated itself, was a non-core asset to Meredith, as its interest in the Time Inc. assets was based in large part gaining non-sports holdings such as People.
FanSided competes in a crowded US space for digital, local market-focused sports news, with other outlets including the now Maven-controlled Sports Illustrated, SB Nation, and Gannett.