Absolute Sports, a Nazara Technologies subsidiary and the parent company of Sportskeeda.com and ProFootballNetwork.com, one of the world's leading providers of sports news and analysis with over 100 million fans engaging with its platform monthly, announced today that it has signed an asset purchase agreement, subject to closing conditions, 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 (~ Rs 11.6 crore) and is expected to be closed in the next 30 days. In CY23, SoapCentral.com had revenues of US $621K (~ Rs 5.2 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. The company expects to unlock massive synergies with its content scaling and operating playbooks to establish Soap Central as a leading entertainment content destination for fans in the US.
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