SportsLine USA has acquired Int'l Golf Outlet, Inc.
(IGO), a privately-held Internet retailer which sells golf
equipment and accessories. SportsLine acquired all
outstanding capital stock of IGO for $2M, consisting of
$350,000 in cash and $1.65M of SportsLine common stock.
SportsLine has also agreed to issue additional common stock,
valued at $1.5M, to IGO shareholders if IGO meets certain
revenue and earnings targets over the next three years. IGO
will be operated as a wholly-owned subsidiary of SportsLine,
under the direction of IGO co-Founder David Schofman, who
was named SportsLine's Dir of Golf Merchandise (SportsLine).
MORE ON THE LINE: SportsLine USA also announced a new
eight-year revenue sharing deal with Daedalus World Wide,
developers of the Commissioner.com fantasy sports web site.
Seven fantasy sports games will be available through the new
Web site at SportsLine.Commissioner.com (SportsLine). In
BROADCASTING & CABLE, Richard Tedesco examines CBS
SportsLine's "sleeker look, including a bright yellow CBS
eye and a slightly revamped sports lineup." A link for a
Women's Sports area is now "prominently displayed" on the
front page, along with new links for the Superstars and
SportsLine Worldwide sections (BROADCASTING & CABLE, 6/29).
BOTTOM LINE: Shares in SportsLine were up 5 1/16 on the
NASDAQ yesterday, closing at 36 9/16 (THE DAILY).
