USA Today Buys ‘Action Sports’ Online Net Banquet
By David Kaplan - Thu 24 Jan 2008 09:46 AM PST
USA Today tells us it has bought action sports site operator Banquet. Among Banquet’s holdings are social net BNQT.com and the Cold War Collective, an ad network of more than 20 sites and blogs focusing on such action sports as skateboarding, BMX biking and surfing. Financial terms were not disclosed.
Sports certainly seems to be on USAT’s mind lately. This week, the Gannett (NYSE: GCI) newspaper’s website struck a video syndication and ad sharing deal with college sports network CSTV.com. As for Banquet, the company’s management remain in place. And it will still be based in Pasadena, CA., it will also with an executive office in McLean, Va, where Gannett is headquartered. Aside from bringing action sports enthusiasts to USAT, BNQT.com also serves as a distribution network for over a dozen video portals and IPTV. Most notably, it has an exclusive arrangement with NBC to run content related to its Action Sports Tour-owned “Free Flow Tour,” an amateur skateboarding event.
Posted in: Companies, Gannett, Entertainment, Sports, Media, Newspapers, VC+M&A, Mergers & Acquisitions
