SportsLine.com, Inc. to Acquire Sandbox.com, Inc.Acquisition creates a direct marketing powerhouse | ||
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FORT LAUDERDALE, FL (September 4, 2001) - SportsLine.com, Inc. (NASDAQ: SPLN), the leading global Internet sports media company and publisher of CBS SportsLine.com (http://cbs.sportsline.com), announced today that it has executed a definitive agreement to acquire privately-held Sandbox.com, Inc (http://www.sandbox.com). Sandbox is one of the leading producers of fantasy sports products on the Internet and has built one of the most vibrant databases of sports enthusiasts in the world today with more than five million registered users.
Sandbox's creative content and direct marketing programs have enabled it to build a large and loyal user base and develop innovative promotional platforms. Sandbox has consistently ranked among the top 20 digital properties time spent per unique user per month, or stickiness.
"This is an extremely complementary acquisition that will enable SportsLine to accelerate its database marketing efforts and further diversify our revenue base," said Michael Levy, founder and CEO of SportsLine.com, Inc. "Fantasy players are very loyal, active and tend to spend much more time on the Internet than the average user, and Sandbox's users clearly fit that mold. This deal will add significant additional sponsorship and direct marketing opportunities for SportsLine."
Under the terms of the agreement, a maximum of 1.6 million shares of SportsLine.com common stock and a maximum of $1 million cash will be exchanged for all outstanding shares of Sandbox.com, subject to certain conditions at the time of closing. The acquisition is expected to close in the fourth quarter of 2001. The acquisition has been approved by the board of directors of each company and the shareholders of Sandbox and is subject to various closing conditions.
About SportsLine.com, Inc.
SportsLine.com, Inc. (NASDAQ:SPLN) is at the leading edge of media companies providing Internet sports content, community and e-commerce on a global basis. SportsLine.com, Inc.'s content includes more than one million pages of multimedia sports information, entertainment and merchandise. The Company's flagship Internet sports service (http://cbs.sportsline.com) was renamed CBS SportsLine.com as part of an exclusive promotional and content agreement with CBS in March 1997. SportsLine.com, Inc. publishes the official Web sites of the NFL and the PGA TOUR and has strategic relationships with Major League Baseball and the NBA, and serves as the primary sports content provider for America Online and Netscape. In 1999, the Company commenced operations in Europe through Sports.com Limited.
About Sandbox.com
Sandbox (http://sandbox.com) is a leading interactive sports entertainment company with over 50 free games, including fantasy sports, sweepstakes, arcade and play-for-fun casino games. Sandbox maintains a community of over five million registered members. A combination of creative content, direct marketing programs and leading-edge technologies allows Sandbox to generate a high volume of Web site traffic, build loyal user communities and develop innovative Internet promotion platforms. Media Metrix ranked Sandbox as the fourth-most trafficked sports Web site in January 2001 in terms of unique visitors, and consistently ranks Sandbox in the top 20 among digital properties and Web sites in terms of duration or "stickiness," which measures time spent per unique user per month. Sandbox has maintained strategic relationships with CNNSI.com and Turner Sports Interactive, as well as licensing agreements with the NFLPA, NHLPA, NBA and MLB.
Note: This press release contains forward-looking statements, which involve risks and uncertainties. SportsLine.com's actual results could differ materially from those anticipated in these forward-looking statements. Factors that might cause or contribute to such differences include, among others, competitive pressures, dependence on advertising revenues, which are difficult to forecast, the growth rate of the Internet, constantly changing technology and market acceptance of the company's products and services. Investors are also directed to consider the other risks and uncertainties discussed in SportsLine.com's Securities and Exchange Commission filings, including those discussed under the caption "Risk Factors That May Affect Future Results" in SportsLine.com's latest Annual Report on Form 10-K. SportsLine.com undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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