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SportsLine USA to acquire GolfWeb

SportsLine USA, publisher of CBS SportsLine, will acquire GolfWeb in a stock deal valued at $14.8 million.

SportsLine USA, publisher of CBS SportsLine, will acquire GolfWeb in a stock deal valued at $14.8 million, the companies announced today.

SportsLine USA, which also runs Web sites devoted to golfers like Tiger Woods, Arnold Palmer, and John Daly, acquired GolfWeb for approximately 860,000 shares of SportsLine USA's common stock.

Under the terms of the deal, GolfWeb will operate as a wholly-owned subsidiary under general manager Tim Harrington. Pending shareholder approvals and conditions, the deal is expected to close by the end of the month.

The deal comes in the wake of SportsLine's announcement last week that its traffic for the fourth quarter was up 251 percent over the same period last year. ESPN Ventures, which produces ESPN SportsZone, NFL.com, and NBA.com announced its fourth-quarter traffic figures yesterday, claiming a 229 percent lead over SportsLine in page views.