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TheStreet Open House

PERFORM And American City Business Journals Inc. Form Partnership To Create PERFORM Sporting News Limited

"We are excited to be partnering with PERFORM which has rapidly become a global digital sports media powerhouse," commented Whitney Shaw, CEO of ACBJ. "Their focus on multi-media innovation that serves sports fans on any device is exactly what Sporting News is aiming at doing for its next 127 years. By partnering with PERFORM, we are combining the heritage and editorial excellence of one of the US's oldest sports media brands with a forward-looking, digitally-focused organization with tremendous technology, content and media assets to create an innovative leader in the digital sports space."

Oliver Slipper, Joint-CEO of PERFORM, added, "in Sporting News we have found the right partner that will enable us to accelerate the growth of our US business. The transformation of the Sporting News brand from all print to all digital over the last few years has truly been remarkable.  With growth in digital reach of 950% and digital revenue growth of almost 300%, Sporting News has accomplished something many legacy brands only aspire to achieve.  Combining that powerful brand with the digital video leadership of PERFORM's ePlayer will enable us to build a truly dynamic business in the United States and Canada. Additionally as soccer cements itself as a top 5 sport in the US, Goal is an extremely exciting asset for this partnership to nurture and grow, in particular with the World Cup around the corner."

Juan Delgado, Managing Director PERFORM Americas, and newly named Managing Director of Sporting News Media added: "We could not be more excited about this new venture. The synergies between Sporting News and PERFORM provide attractive immediate opportunities and position Sporting News Media among the leading sports media brands in the US market. The scale and reach of this business alongside its deep technical, editorial and content capabilities will provide US sports fans with great news, video and data content and, as importantly will offer brands the opportunity to reach and engage with these fans in unique ways."

Jeff Price, President of Sporting News and newly named President of Sporting News Media, commented: "This is a huge step forward in the continued evolution of Sporting News' appeal to sports fans and marketers. While the majority of the scaled players in the US sports category are hyper-focused on the 'live window' around games, Sporting News Media has become the leading alternative to serve fans looking for insights and information between games. Given the increasing amount of time that fans are spending across multiple devices outside the 'live window' to find an edge that helps fuel the sports 'water cooler' conversation, Sporting News Media is well positioned to deliver unique value to both fans and marketers across web, video, mobile and social media platforms."  

Transaction Summary

PERFORM and American City Business Journals have established a joint venture, which is owned 65% by PERFORM and 35% owned by ACBJ. 

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