Yahoo Inc. said Wednesday it would acquire Rivals.com, a site for fans of college and high school teams, bolstering the Internet media company's position as the top U.S. sports site in audience terms.
Besides bringing Yahoo (Charts, Fortune 500) a base of 2 million to 2.5 million fans of high school and college football and basketball, the deal also is a measure of Yahoo's commitment to its media business following top-level management changes this week.
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CNN's Maggie Lake reports that Yahoo CEO, Terry Semel, has resigned.
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Terms of the deal were not disclosed.
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