FanNation Worth $60 Million?

Mashable was the first to cover the launch of FanNation, an upcoming sports social network that debuted in September. I also covered the news that Sports Illustrated has partnered with the impressive high school sports network Takkle. Now the Sports Business Journal (behind a paywall) is reporting that Sports Illustrated/Time Inc has a “deal in principle” to get a 40% stake in FanNation for $25 million - that would mean the sports social network is valued at a staggering $60 million already.

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