Wasserman Media Group is in talks with the likes of Comcast (NSDQ: CMCSA), ESPN (NYSE: DIS) and Fox on investment or the sale of its online sports network Sportnet, reports SBJ. Sportnet was founded in 2005 to aggregate sites and advertisers across Olympic and action sports sites that WMG operates, including motocross.com, ryansheckler.com and three national governing bodies, USA Track & Field, USA Swimming and USA Gymnastics.
According to the story, Montgomery & Co., which is the bank repping the company, has valued the venture at $50 million, though that has met resistance from interested parties as it is expected to post an eight-figure loss this year. The talks are about either an investment in the digital venture, or an outright sales.
WMG is invested in Prep Sports Online, an online high-school sports network, and Takkle, a high school online sports social networking site.
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