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Time Warner Said to Buy Bleacher Report for Under $200M

Time Warner Inc.’s Turner Broadcasting System division, bolstering its online sports coverage, acquired the Bleacher Report website for less than $200 million, a person familiar with the deal said.

The acquisition was confirmed by both companies in a statement today, following its approval by the Federal Trade Commission last week. The person with knowledge of the transaction asked not to be identified because the financial terms aren’t being disclosed.