/indianstartupnews/media/agency_attachments/s1FnhAYONODoxNkoC8xA.png)
Follow Us/indianstartupnews/media/media_files/Pxryc7wLWIOSLiHrf7uX.jpg)
Absolute Sports, Nazara Technologies subsidiary and the parent company of Sportskeeda.com and ProFootballNetwork.com, today said 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.
According to the company's statement, 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 $621,000 (~ Rs 5.2 crore).
Absolute Sports will use its cash reserves to fund the transaction.
What does SoapCentral do?
Founded by Dan J. Kroll, Soap Central is one of the leading entertainment publishers in the US.
Launched in March 1995, Soap Central provides the latest news, comprehensive daily recaps, sneak peeks and previews, character profiles, interviews, and more for US TV Shows. The website gets upwards of 400,000 users visiting the site monthly, the company said in a release.
Aiming to become leading publishers in the US market
With this acquisition, Absolute Sports aims to become one of the leading sports and entertainment-focused publishers in the US market.
The company already operates SK Pop (Pop-Culture) and has experience scaling entertainment content under the SK-Pop banner.
IT 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.
Leadership comments
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 Ajay Pratap Singh, CEO of Absolute Sports.
“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.”