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 prominent US-based entertainment content site. The acquisition, valued at $1.4 million (approximately Rs 11.6 crore), is expected to close within the next 30 days. SoapCentral.com reported revenues of $621,000 (about Rs 5.2 crore) in the calendar year 2023.
This acquisition marks Absolute Sports’ second foray into the US sports media market. Earlier this year, the company acquired a 73.27% stake in Pro Football Network LLC. Absolute Sports plans to use its cash reserves to fund the SoapCentral.com transaction.
Sportskeeda, Absolute Sports’ flagship brand, is a leading platform covering sports and esports, attracting over 100 million fans each month. Nazara Technologies, listed on stock exchanges, acquired a majority stake in Absolute Sports in 2019, which bolstered the then-10-year-old business.
Pro Football Network, another Absolute Sports property, averages 5 million unique monthly active users and is well-regarded as an NFL-focused sports site. Additionally, Absolute Sports operates SK Pop, which specializes in pop culture content, demonstrating its capability to scale entertainment content.
With the acquisition of SoapCentral.com, Absolute Sports aims to leverage its expertise in content scaling and operational strategies to transform SoapCentral.com into a premier entertainment content destination for US audiences.
