Posted on February 27th, 2009 at 6:00 pm by Cheesesteak Hoagie
Combined offering to create leading independent voice of Eagles-themed commentary, homecooked stats, snarky jokes about Philly media
PHILADELPHIA, Penna. — February 27, 2009 — IgglesBlog today announced it will acquire BountyBowl for $2.43 per share in an all-cash transaction valued at $2.43.
“The Eagles blogging business is evolving at an incredible pace, moving increasingly toward highly specialized and niche offerings, and readers are looking for hard-core football analysis as well as cheap jokes at the expense of beleaguered local sportswriters,” said Derek, chief executive officer of IgglesBlog. “We recognize today’s announcement comes at a difficult time for the media industry as a whole, but we see tremendous synergies through this acquisition, mainly resulting from the fact that we used to have just me writing the stories. Now we’ll have someone else doing it sometimes too. That’ll be nice. I guess.”
The acquisition enables IgglesBlog to strengthen relationships with the seven readers of BountyBowl who don’t also read IgglesBlog. These incremental seven readers — mostly friends and family of BountyBowl — are essential to the future growth and development of IgglesBlog, especially as IgglesBlog seeks to target advertising to the coveted related-to-BountyBowl demographic. The acquisition also provides IgglesBlog with a broader and richer base of content, including both Eagles-related articles and photos of food.
Founded in 2007, BountyBowl is the leading provider of Donovan McNabb misspellings and snarky potshots at local Philly sports beat writers. BountyBowl has never quite gotten over the Eagles teams of BountyBowl CEO Gabe’s youth, which, despite the fact that they never actually won anything, did a great job of injuring the opposition. Said CEO also likes justifying his aberrant behavior during Eagles games by referring frequently to his “sports feelings,” which he considers to be valid emotions and which he believes legitimizes “shouting at the television.”
“BountyBowl’s mission has been to leverage the power of the Internet to call otherwise honest and hardworking journalists names and make snide remarks about Andy Reid’s wardrobe,” said Gabe. “IgglesBlog has been a pioneer in independent Eagles journalism, offering data-driven analysis as well as passionate support of the team, and we look forward to combining forces and bringing the value of our combined assets to bear for the benefit of Eagles fans, or at least the hard cases that are as addicted to this nonsense as we are.”
“Combining the talented people and resources of these two companies will make IggleBlog at least 8 percent more interesting, mostly on days that I have other sh*t to do,” said Derek. “Despite the fact that I’ve never actually met Gabe or spoken to him on the phone, we believe that joining the capabilities of these two organizations is an important step toward our goal of becoming an industry-leading source of Eagles commentary. Plus, I totally have a kid now and there are going to be days where I can’t get away with churning out 2,500 words on how Chris Gocong is doing in pass coverage.”
The deal is expected to be completed in the “next couple days,” pending regulatory and shareholder approvals. The acquisition is not expected to have a significant impact on the financial guidance previously issued by the Company.
BountyBowl, which has approximately 1 employee, will continue to operate from its New York headquarters as part of IgglesBlog’s New York operations.
BountyBowl was this blog that this dude made because he really really liked the Eagles and probably always secretly wanted to be a sportswriter. You may have stopped by once or twice on Derek’s generous recommendation, but we wouldn’t be shocked if you never bothered. BountyBowl’s address is www.bountybowl.com.
IgglesBlog is the leading independent source of Eagles commentary on the Internet, and was named one of the top nerdy football blogs by Football Outsiders, which is itself a nerdy football blog. It’s pretty solid.