Absolute Sports, a Nazara Technologies subsidiary and the parent company of Sportskeeda and ProFootballNetwork, has announced that 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.
“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 Absolute Sports CEO Ajay Pratap Singh. “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.”
The transaction is for an all-cash consideration of $1.4 million (approximately INR 11.6 crores) and is expected to be closed in the next 30 days. In CY23, SoapCentral.com had revenues of US $621K (approximately INR 5.2 crores). Absolute Sports will use its cash reserves to fund the transaction. Absolute Sports aims to become one of the leading sports and entertainment-focused publishers in the US market and this acquisition is a strong step towards achieving that goal. The company operates SK Pop (pop culture) and has experience scaling entertainment content under the SK-Pop banner.