Turner Buys Bleacher Report For $175 Million

Well, that's that: Turner has finalized on its purchase Bleacher Report. The sale is for about $175 million, less than the $200 million+ that was projected a month ago.

Bleacher Report brings in about $30 million a year in revenue, on the backs of "6,000 mostly unpaid contributors who churn out more than 1,000 articles a day," reports Ad Age.

[Ad Age; Wall Street Journal]