Tuesday, March 23, 2010

Yahoo buying fantasy sports company Citizen Sports

SAN FRANCISCO — Yahoo is buying a fantasy sports company co-founded by an MIT graduate whose card-counting skills helped him win millions of dollars in blackjack and spawned a film and a best-selling book.

Citizen Sports offers fantasy leagues for sports such as football, soccer and basketball that fans can manage online at social-networking sites and through mobile applications for Apple's iPhone and smart phones running Google Inc.'s Android operating software.

With Citizen Sports, Yahoo is looking to boost its social-networking offerings, an area the company has struggled in even though, according to comScore, it commands the largest U.S. Internet audience in news, sports and finance.

Yahoo did not release financial details of its purchase, which it expects to close by June.

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