Yahoo buying fantasy sports company Citizen Sports
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SAN FRANCISCO (AP) - Yahoo is buying a fantasy sports company co-founded by an MIT graduate whose card-counting skills helped him win millions of dollars in blackjack and spawned a film and a best-selling book.
Citizen Sports offers fantasy leagues for sports such as football, soccer and basketball that fans can manage online at social-networking sites and through mobile applications for Apple's iPhone and smart phones running Google Inc.'s Android operating software.
With Citizen Sports, Yahoo is looking to boost its social-networking offerings, an area the company has struggled in even though, according to comScore, it commands the largest U.S. Internet audience in news, sports and finance.
Yahoo did not release financial details of its purchase, which it expects to close by June.
Millions of people participate in fantasy leagues. Participants rack up points based on the performance of the sports players they pick to be on their make-believe teams.
Jeff Ma, whose antics in Las Vegas and Atlantic City inspired "Bringing Down the House" and, more recently, the movie "21," started Citizen Sports with business partner Mike Kerns in 2004.
Yahoo said Wednesday that Citizen Sports will be integrated with content from its sports news and information site, Yahoo Sports, and vice versa.
Citizen Sports, which is privately held, now has 39 million unique visitors in the U.S. each month.
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