The US entertainment content website SoapCentral.com has been acquired by Absolute Sports, a sports media platform and a Nazara Technologies subsidiary, for an all-cash payment of $1.4 million.
It expects to finalize the acquisition—which was done through its wholly-owned subsidiary Sportskeeda.com—within 30 days. A company statement states that the deal will be financed by the company’s financial reserves.
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The acquisition attempts to strengthen the company’s position in the US sports and entertainment industry.
Absolute Sports, via its flagship brand Sportskeeda, covers sports and esports subjects and serves more than 100 million fans every month. In 2019, Nazara, listed on the stock exchanges, picked up a majority stake in the company, which was then a 10-year old business.
Soap Central, which has approximately 4 lakh monthly visitors, made $6,21,000 (about Rs 5.2 crore) in gross revenue in CY2023.
Ajay Pratap Singh, CEO, Absolute Sports, said: “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 … 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,”
About Absolute Sports
Founded in 2009 by Anshu Prasad, Porush Jain and Prashant Singh, Absolute Sports is one of the world’s leading tech-led sports and gaming media companies. Its flagship brand – Sportskeeda serves 150 Million+ global sports fans every month with engaging content across multiple platforms and formats.
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