Nazara Tech’s Sportskeeda has completed the acquisition of US-based NFL news outlet Pro Football Network Inc. in an all-cash deal worth $1.82 Mn. Sportskeeda picked up 73.27% of Pro Football Network via another of Nazara’s wholly-owned subsidiaries, Absolute Sports. Pro Football Network had a turnover of $2.1 Mn as on December 31, 2022, and covers the National Football League (NFL) with almost 5 Mn monthly average users. The acquisition marks Absolute Sports’ first-ever acquisition in the US sports media market after Nazara picked it up last year. Based on the article, Pro Football Network covers the National Football League (NFL) and has almost 5 million monthly average users (MAUs).
The acquisition of Pro Football Network by Nazara Tech’s Sportskeeda is expected to add value to the existing portfolio of sports media brands owned by Absolute Sports. Moreover, the acquisition will help enable extended coverage from the US. As of December 31, 2022, Pro Football Network had a turnover of $2.1 million. Sportskeeda, a wholly-owned subsidiary of Nazara Technologies, has acquired 73.27% of Pro Football Network in an all-cash deal worth $1.82 million via Absolute Sports, another wholly-owned subsidiary of Nazara. With this acquisition, Pro Football Network has become a step-down subsidiary of Absolute Sports and a direct subsidiary of Sportskeeda. Nazara has also announced that Sportskeeda reserves an option to acquire up to 10% and up to 8% additional stake in Pro Football Network in 2024 and 2025, respectively.