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As reported back in April, Yahoo will announce the acquisition on Thursday of college sports site Rivals.com. Financial terms are not being disclosed, but the $100 million (approx) price comes from the ever-reliable PaidContent.
Unlike many revenue-less sites being acquired these days, Rivals.com makes money from subscriptions: they report 185,000 subscribers paying $99.95/year or $9.95/month. The site competes with News Corp's Scout.com, acquired in 2005. Launched in 2001, Rivals saw peak traffic (September 2006) of 2.57 million visitors versus 2.29 million visitors to Scout.com in the same month, according to ComScore.
It's the first buy with Yang at the helm, but obviously this deal has been brewing much longer.