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SportsLine.com, Inc. Announces Sale of VegasInsider.com
FORT LAUDERDALE, FL (June 23, 2003) – SportsLine.com, Inc. (Nasdaq: SPLN), a leading sports Internet sports media company and publisher of CBS SportsLine.com (http://cbs.sportsline.com), today announced the sale of its VegasInsider.com subsidiary to Sports Information, Ltd. a United Kingdom company. Terms of the sale were not disclosed.
The Company had previously announced in February its intention to dispose of its gaming information operations, consisting of VegasInsider.com and Las Vegas Sports Consultants, in order to focus on its core business, including proprietary-branded properties NFL.com, PGATOUR.com and NCAAsports.com. The Company expects to complete a transaction regarding the sale of Las Vegas Sports Consultants during the September quarter.
VegasInsider.com is a Web site that provides sports information, news and analysis targeted toward consumers interested in gaming. Las Vegas Sports Consultants is the leading provider of gaming information and analysis targeted toward legal and licensed sports books.
About SportsLine.com, Inc.
SportsLine.com (Nasdaq:SPLN) is at the leading edge of media companies providing Internet sports content, community and e-commerce. As the publisher of CBS SportsLine.com and the official Web sites of the NFL, PGA TOUR and NCAA Sports, the Company serves as one of the most comprehensive sports information sources available, containing an unmatched breadth and depth of multimedia sports news, information, entertainment and merchandise. SportsLine.com also serves as a primary sports content provider for America Online.
Note: This press release contains forward-looking statements, which involve risks and uncertainties. SportsLine.com’s actual results could differ materially from those anticipated in these forward-looking statements. Factors that might cause or contribute to such differences include, among others, competitive pressures, dependence on advertising revenues, which are difficult to forecast, the growth rate of the Internet, constantly changing technology and market acceptance of the company’s products and services. Investors are also directed to consider the other risks and uncertainties discussed in SportsLine.com’s Securities and Exchange Commission filings, including those discussed under the caption “Risk Factors That May Affect Future Results” in SportsLine.com’s latest Annual Report on Form 10-K. SportsLine.com undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.