Sinclair Broadcast acquires Tennis Media Company in up to $14M deal
Sinclair Broadcast Group announced that it has acquired the assets of Tennis Media Company, the owner of Tennis magazine and Tennis.com, for $8M plus an additional $6M earn-out potential based on certain contingencies. The acquisition will create a unified media platform that combines Tennis.com, the most visited online tennis platform in the world, and Tennis magazine, the sport's most circulated print publication, with Sinclair's Tennis Channel, the 24-hour television and multimedia network dedicated to the sport. The transaction was funded with cash on hand. Widely considered the most valued online tennis domain, Tennis.com garners 25M monthly page views and 2M unique monthly visitors. The site also houses its Baseline daily newsletter. Tennis Channel is currently expanding its digital activity to complement on-air programming and become more integrated with websites of other Sinclair stations and properties throughout the country, and Tennis.com will play a major part in that integration process. Likewise, the network will pair Tennis magazine's No. 1 circulation of 600,000 in its category with its own expanding subscriber base for the benefit of both assets. Since Tennis Channel was acquired by Sinclair in March 2016, it has jumped from 37M viewing homes to close to 50M, according to ComScore, and has deals in place to reach 60M homes this year.