Another sign that the Wired World wasn’t all it was cracked up to be … Paul Allen is selling The Sporting News to Advance Publications’ American City Business Journals. The sale by Allen’s Vulcan Sports Media Inc. was first reported by Jeff Bercovici at Radar Online. The Newhouse chain already owns the Street & Smith’s Sports Division, including Sports Business Journal, Sports Business Daily, conferences, etc. Based in St. Louis, Sporting News undergone numerous transformations since it was acquired by Allen from Times Mirror in 2000 and meshed first with One-on-One Sports radio and then with fantasy company Small World Sports. It has a thriving fantasy business and strong online operations.
— Re Radar Online — yes, I forgot it was there, too. (via Romenesko)
Disclosure: I am an occasional contributor to the Sports Business Journal.
Update: CEO Rick Allen (no relation to Paul) will be staying on, according to TSN’s PR firm. Ditto for Editor John Rawlings. No terms are being disclosed — sale efforts officially kicked off early this year — but no one’s denying speculation that it’s far below the $100 million or so Paul Allen paid Times Mirror in 2000. The company reported turning a profit in 2004 after Rick Allen reorganized operations.
— No answer yet as to how this will fit in with ACBJ’s digital plans; the chain recently put most of the news content of its 41 business journals behind a wall for print subs only. The deal should close early in Q406. Release.
Related: Sporting News Officially For Sale; Less Than 50 Percent Of Revenue Comes From Magazine
— SportingNews Profitable, With Vulcan’s Efforts
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