SoapCentral.com is a leading US source of entertainment content. Absolute Sports, a Nazara Technologies subsidiary and the parent company of Sportskeeda.com and ProFootballNetwork.com, is close to purchasing all of the assets of SoapCentral.com.
The deal, which is expected to close within the next 30 days, is for an all-cash consideration of $1.4 million, or Rs 11.6 crore. SoapCentral.com generated $621,000 in revenue in CY23, or roughly Rs 5.2 crore.
To finance the deal, Absolute Sports will draw from its cash reserves.
In the US sports media market, Absolute Sports has made two acquisitions thus far. Pro Football Network LLC, a US-based company, was acquired by Absolute Sports earlier this year for 73.27% of its equity.
Over 100 million fans are served monthly by Absolute Sports through its flagship brand Sportskeeda, which covers sports and esports topics. 2019 saw Nazara, a company that had been in operation for ten years, become the majority shareholder after being listed on the stock exchanges.
Pro Football Network is a well-known NFL-focused sports website in the nation, with over 5 million unique monthly active users on average. The business has experience growing entertainment content under the SK-Pop brand and currently runs SK Pop (Pop-Culture).
In order to position Soap Central as a top entertainment content destination for fans in the US, the company hopes to achieve synergies with its content scaling and operating playbooks.
