Keep an eye on sports news site CBS Sportsline (Nasdaq: SPLN). While Microsoft’s online magazine Slate has tried the online subscription model and failed, Sportsline looks like it just might succeed.
Sportsline CEO Mike Levy said Wednesday that he expects his company will turn a profit next year, largely because of an increase in paying subscribers. Other revenue also is climbing steadily. In January, the Super Bowl alone generated $800,000 (US$) in advertising revenue and record-breaking e-commerce sales.
One day earlier, Sportsline had already been raised from a buy to a strong buy by BT Alex Brown, which set a 12-month price target of $85 a share.