Yahoo! has bought Rivals.com, a US site for fans of college and high school sport, for a reported $100m.

It’s the first acquisition since CEO Terry Semel stepped down from his post this week to be replaced by Jerry Yang.

Rivals.com, launched in 2001, has been growing steadily, peaking at 2.57m monthly visits in September 2006. It currently has around 100,000 subscribers paying between $10 and $100 per month.

The move will boost Yahoo’s already-strong sports offering – its range of sports sites attracted 15.1m visitors last month, second only to ESPN’s 17.6m.

The financial details of the deal were not disclosed, though paidcontent says the deal is worth $100m.

Further reading:

News Corp looking at MySpace/Yahoo! deal?