Absolute Sports, a subsidiary of Nazara Technologies and the parent company of Sportskeeda.com and ProFootballNetwork.com, announced today that it has signed an asset purchase agreement to acquire all assets of SoapCentral.com, a leading US entertainment content website.
The acquisition, valued at $1.4 million (~ INR 11.6 crores), is expected to be completed within the next 30 days, pending closing conditions. In CY23, SoapCentral.com generated revenues of $621K (~ INR 5.2 crores). Absolute Sports will fund the transaction using its cash reserves.
Absolute Sports, which engages over 100 million fans monthly, aims to become a leading sports and entertainment publisher in the US market. The company already operates SK Pop (Pop-Culture) and plans to leverage its experience in scaling entertainment content to establish Soap Central as a premier entertainment destination.
About Soap Central : Founded by Dan J. Kroll, Soap Central is one of the leading entertainment publishers in the US. Launched in March 1995, Soap Central offers the latest news, comprehensive daily recaps, sneak peeks and previews, character profiles, interviews, and more for US TV shows. The website attracts upwards of 400K users each month.