SportsLine weights $39.78mil offer (South Florida Biz)
Viacom (which owns CBS) already owns 38% of SportsLine shares and SportsLine is otherwise in debt to them; Viacom agreed to push back a previous deal for SportsLine to pay them back in stocks and cash now so they could do this deal, and without a last minute investor, they’ve got no real choice but to take the money.
Viacom would buy 26.52mil shares at $1.50 each, but has surged to 1.63 on the news. I dunno what changes to the site would be made after, though one would lean down to scaled down operations if anything.
At least they didn’t go bankrupt? I do like their real time scoreboard stuff.