Online sports company Rival Networks said Wednesday it has shut down because of "unfavorable market conditions." Rival Networks, which operates online sports site Rivals.com and other channels, said it was unable to negotiate deals with potential buyers. Rival Networks said it will be offering severance packages to its employees.
Rivals.com, which launched in 1999, provided sports fans with targeted information and analysis about their favorite teams. In February, the Seattle-based company inked a deal with Yahoo to provide college and professional team content to Yahoo Sports. Rival Networks said Rivals.com publishers will be able to maintain their branded URLs and continue their operations independently.