Updated: Some basic assumptions, and the sale price is probably in $50 million range. For an expected $17-million-in revenues-this-year-company, not a bad price.

Fox Interactive Media, which made a bang last month by buying out MySpace.com for $580 million (our detailed coverage here), has made its second acquisition (there are more to come, believe me): it has bought out Seattle-based Scout Media, which operates a network of more than 200 niche sports websites and 47-team specific magazines. With a traffic of about 1.4 million visitors in May, the network is the 15th most popular sports site/network in U.S., according to comScore Media Metrix.

The site wil be combined with the already strong FoxSports.com (run through MSN).

The acquisition is a win for Scount CEO Jim Heckman, who co-founded Scout in 2001 shortly after his previous online sports company—the high-flying Rivals.com—was sold in a liquidation sale to a Brentwood, Tenn., group. No layoffs are planned at the 25-person company and Scout.com will remain in Seattle.

Just last month, Scout announced a $6 million round of venture funding, with investment from Kosar Investments, NLM Capital and Ahab Capital.

More as warranted…

Related:

—Fox-MySpace Deal: Our Full Coverage

—Scout Media Raises $6M To Fund Media Acquisitions