Rivals.com, a college sports network established in 2001 is about to be acquired by Yahoo for anywhere between $50 million to $100 million. According to PaidContent.org, who broke the story first, The company received $75 million in venture capital during startup and currently employs 300 people.

The new acquisition would be a boost to Yahoo Sports, which has been looking for ways to catch up to the juggernaut of ESPN.com and the surge from FoxSports.com. It has an already-existing deal with Rivals.com for sharing sports content; Rivals also supplies content to USAToday.com, AOL Sports, SportingNews.com, MSNBC.com and SI.com.

The internet sports media landscape continues to evolve, as this will be one of the biggest sports acquisitions since the Broadcast.com deal.

(from Mashable)