Yahoo Sports Selling Rivals to On3 Ownership Group

In a significant move within the college sports landscape, Yahoo Sports has confirmed the sale of Rivals to the On3 ownership group, led by entrepreneur, Shannon Terry.

This transition, which marks a pivotal moment for both entities, includes Yahoo Sports acquiring an ownership stake in the newly formed aggregate group.

Once a co-founder of Rivals, Shannon Terry, was integral to its acquisition by Yahoo for approximately $100 million (AUD$155 million) in 2007.

Following that, he established the On3 network in 2021 and had previously founded 247, which was sold to CBS in 2015.

Commenting on the acquisition, Terry, expressed enthusiasm for harnessing the legacy of Rivals, pointing out the platform’s established reputation within the recruiting sector, with plans for forthcoming investments aimed at bolstering recruiting efforts, high school sports coverage, and engaging college fan bases.

While the specifics of the transaction remain undisclosed, such as the valuations of Rivals and the On3 ownership group, as well as Yahoo’s percentage in the parent company—the partnership is set to enhance Yahoo Sports’ influence in the college sports arena.

Notably, Yahoo Sports will obtain a seat on the parent company’s board and have substantial opportunities for expanding content distribution and subscription growth.

Terry also conveyed excitement about collaborating once again with Yahoo Sports, noting a shared vision of mutual benefit.

He highlighted Yahoo’s extensive distribution capabilities and robust editorial framework as key assets that will contribute to the growth initiatives for both On3 and Rivals.

The integration of Rivals and On3 promises to enhance user experience, as subscribers will gain access across both platforms, capitalising on their respective strengths.

On3’s broader focus on college athletics complements Rivals’ prominent reputation in recruiting rankings and content.

The agreement is expected to be concluded by the end of June, signifying a dynamic shift in the competitive landscape of college sports media.

Don’t miss out on the latest in sports business – Subscribe today to the free Ministry of Sport newsletter and stay ahead of the game. For even more exclusive insights, event tickets, professional development and networking events, become a MoS Member today!