Absolute Sports, a Nazara Technologies subsidiary and the parent company of Sportskeeda and ProFootballNetwork, today said that it has signed an asset purchase agreement, subject to closing conditions, to acquire all of the assets of SoapCentral, a premier source of entertainment content in the US. The transaction is for an all-cash consideration of USD 1.4 million (about Rs 11.6 crore) and is expected to be closed in the next 30 days. In calendar year 23, SoapCentral hadrevenues of USD 621K (about Rs 52.2 crore). Absolute Sports will use its cash reserves to fund the transaction.
Absolute Sports aims to become one of the leading sports and entertainment focused publishers in the US market and this acquisition is a strong step towards achieving that goal. The company already operates SK Pop (Pop-Culture) and has experience scaling entertainment content under the SK-Pop banner.
"We are thrilled to announce our expansion in the entertainment segment with the acquisition of Soap Central. The entertainment publishing industry is more than twice the size of sports publishing (Similarweb, 2024) and allows us a great canvas for expansion into multiple content categories,” said CEO of Absolute CEP Sports jay Pratap Singh. “Having tested our content publishing and hyper-growth playbook with the acquisition of Pro Football Network last year, we are confident of scaling Soap Central in a very short time.”
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