CBS Buys Bankrupt Sports Video Site Scout Media for $9.5 Million – Variety
CBS has agreed to acquire the assets of Scout Media, a multichannel sports video network, for $9.5 million after submitting the only bid for the bankrupt company.
Scout filed for Chapter 11 bankruptcy protection in December. Originally founded in 2001, it was acquired by Fox Sports in 2005. Fox sold Scout in 2013 to North American Membership Group (NAMG), which is owned by Bob Pittman’s Pilot Group private-equity fund.
Scout.com will become part of CBS Sports Digital’s portfolio of properties, which include CBSSports.com, the CBS Sports apps for mobile and connected-TV devices, 247Sports, MaxPreps, CBS Sports fantasy games, and SportsLine. According to CBS, Scout will focus on sports teams and recruiting coverage, complementing 247Sports’ network of college and pro team sites and its subscription recruiting information services.
“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,” Jeffrey Gerttula, senior VP and GM of CBS Sports Digital, said in a statement. “This acquisition will fit perfectly into our goal to provide engaging content, from the national to the team level, for sports fans, and will enable us to deliver more value to individual team fanbases across all screens and devices, as well as create exciting cross-platform advertising opportunities.”
A CBS Interactive rep declined to disclose how many Scout employees will be joining the company with the bankruptcy sale. Scout had been based in Seattle, with offices in New York City. Scout’s founder and CEO, James Heckman, was fired by the company’s board last July. In 2014, the company had named Ross Levinsohn, former CEO of Guggenheim Digital Media, as executive chairman.
According to its website, Scout each month produced some 12,000 stories and thousands of videos every month for NFL, Major League Baseball and college football and basketball teams, along with other sports and outdoor categories.
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