Absolute Sports, a Nazara Technologies subsidiary and the parent company of Sportskeeda.com and ProFootballNetwork.com, is close to acquire all of the assets of SoapCentral.com, a premier source of entertainment content in the US.
The transaction is for an all-cash consideration of $1.4 million about Rs 11.6 crore and is expected to be closed in the next 30 days. In CY23, SoapCentral.com had revenues of $621,000 about Rs 5.2 crore.
Absolute Sports will use its cash reserves to fund the transaction.
This is the second acquisition for Absolute Sports in the US sports media market. Earlier this year, Absolute Sports had acquired a 73.27% stake in US-based Pro Football Network LLC.
Absolute Sports, via its flagship brand Sportskeeda, covers sports and esports subjects and serves more than 100 million fans every month. In 2019, Nazara, listed on the stock exchanges, picked up a majority stake in the company, which was then a 10-year old business.
With more than an average of 5 million unique monthly active users, Pro Football Network is widely recognized as one of the NFL-focused sports sites in the country. The company already operates SK Pop (Pop-Culture) and has experience scaling entertainment content under the SK-Pop banner.
The company expects to unlock synergies with its content scaling and operating playbooks to establish Soap Central as a leading entertainment content destination for fans in the US.
