Absolute Sports, a subsidiary of Nazara Technologies and the parent company of Sportskeeda.com and ProFootballNetwork.com, is set to acquire all assets of SoapCentral.com, a premier source of entertainment content in the United States.
The transaction, valued at $1.4 million (approximately Rs 11.6 crore), is anticipated to be finalized within the next 30 days.
SoapCentral.com generated revenues of $621,000 (around Rs 5.2 crore) in the calendar year 2023. Absolute Sports plans to utilize its cash reserves to fund the acquisition.
This acquisition marks Absolute Sports’ second foray into the US sports media market. Earlier this year, the company acquired a 73.27% stake in US-based Pro Football Network LLC.
Through its flagship brand Sportskeeda, Absolute Sports covers a wide range of sports and esports topics, reaching over 100 million fans monthly. Nazara Technologies, listed on the stock exchanges, acquired a majority stake in Absolute Sports in 2019, when it was a decade-old business.
Pro Football Network, with an average of 5 million unique monthly active users, is renowned as a leading NFL-focused sports site in the United States. Absolute Sports also operates SK Pop, a pop-culture content platform, showcasing its capability to scale entertainment content successfully.
The acquisition of SoapCentral.com is expected to unlock significant synergies. Absolute Sports aims to leverage its content scaling and operational expertise to establish SoapCentral.com as a leading entertainment content destination for fans in the US.
“We are excited to integrate SoapCentral.com into our portfolio,” said a spokesperson for Absolute Sports. “This acquisition aligns with our strategic vision to expand our footprint in the entertainment content space and enhance our offerings to a broader audience.”
With this acquisition, Absolute Sports continues to strengthen its position in the global sports and entertainment media landscape, demonstrating its commitment to delivering high-quality content to a diverse audience.
