Full press release below:
San Francisco, CA March 31, 2011 – AOL Inc. [NYSE: AOL] today announced that it has agreed to acquire BadatSports.com, one of the nations leading Contemporary Fine Art & Culture commentary/interview programs based out of Chicago, IL. Bad at Sports is well known throught the world for its fresh take on the current Fine Art scene and will make a strong cornerstone to the growing AOL Culture Network while retaining their editorial independence and unique voice that has proven so successful over the years. Further bolstering AOL’s position as one of the world’s leading providers of high-quality & timely commentary and insight into everything from technology & politics to art & culture.
Founded by Duncan MacKenzie and Richard Holland, Bad at Sports which has operated on a minimal budget and office of dedicated staff has over 5 years grown into a site that reaches millions around the world and has archived over 300 hours of one on one interviews with some of the art worlds most notable up in coming art creators, curators, historians, educators, business insiders and collectors.
AOL’s Editor in Chief Arianna Huffington singled this out as one of the main reasons Bad at Sports was one of the first aqqusitions under her direction. “The work that Holland & MacKenzie and everyone at Bad at Sports has done over the years is close to amazing and shows a level of care and dedication that you need to succeed in the long term in both the publication business and Art/Culture world and made bringing them into the larger portfolio an obvious decision.” she said.
“Engagement with thought leaders, tread setters and those that create the culture of tomarrow is as important to AOL’s growth as is the engagement of our established audience and having spoken with Operations Manager Christopher Hudgens at length about the ideas he had for the role Bad at Sports in expanding the art & culture division of AOL under the supportive hand of our new Editor in Chief will only continue to show AOL’s commitment to quality and a greater conversation on the internet. I look forward to what they can produce with the full support and resources of AOL behind them.” said David Eun, President of AOL Media and Studios.
This acquisition will further AOL’s strategy to become the global leader in sourcing, creating, producing and delivering high-quality, trusted, original content to consumers. Bad at Sports will remain headquartered in Chicago,IL, as a wholly owned AOL unit. Deal terms were not disclosed.
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding business strategies, market potential, future financial and operational performance and other matters. Such forward-looking statements include, but are not limited to, statements regarding the anticipated benefits of the transaction and other statements identified by words such as “may,” “will,” “intend,” “should,” “expect” or similar expressions. These statements are based on management’s current expectations and beliefs, and are subject to uncertainty and changes in circumstances, including, but not limited to, the satisfaction of the closing conditions to the transaction and the parties’ performance of their obligations under the agreements; changes in our plans, strategies and intentions; the competitiveness and quality of our products and services; our ability to retain, hire and develop key employees; and the intensity of competition. Any forward-looking information is not a guarantee of future performance and actual results may vary materially from those expressed or implied by the statements herein, due to changes in economic, business, competitive, technological, strategic and/or regulatory factors, as well as factors affecting AOL’s operations and businesses. More detailed information about these factors as they relate to AOL may be found in the section entitled “Risk Factors” in AOL’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission. AOL is under no obligation to, and expressly disclaims any obligation to, update or alter the forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise.
AOL Inc. (NYSE:AOL) is a leading global Web services company with an extensive suite of brands and offerings and a substantial worldwide audience. AOL’s business spans online content, products and services that the company offers to consumers, publishers and advertisers. AOL is focused on attracting and engaging consumers and providing valuable online advertising services on both AOL’s owned and operated properties and third-party websites. In addition, AOL operates one of the largest Internet subscription access services in the United States, which serves as a valuable distribution channel for AOL’s consumer offerings.
About Bad at Sports
Bad at Sports located at badatsports.com and based in Chicago, IL is one of the worlds leading contemporary fine artÂ commentary/60 minute art interview programs. Founded in 2005 as a podcast by co-hosts Duncan MacKenzie and Richard Holland, Bad at Sports has grown into a website that is read and listened to by people Â in every major metropolitan cityÂ aroundÂ the globe. With over 300 60 minute episodes with leading art world over a thousand posts Bad at Sports has and continues to document the Art world from within with a unique and valuable position of insight.
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