XLMedia PLC (AIM: XLM, FRA: 7X3) has acquired Saturday Football Inc, an online publisher of American college football news.
The total consideration is US $ 23.0 million in cash plus US $ 1.0 million in long-term incentive shares.
Founded in 2014, Saturday Football Inc. operates two leading college football media sites that generate an audience of approximately 10 million visits per month. She has been an XLMedia partner agency since December 2020.
XLMedia management estimated that Saturday Football sites generated unaudited underlying revenue and profit (EBITDA), before founders indemnification, in the 12 months ending July 31, 2021, of approximately $ 2. Approximately US $ 5 million, respectively US $ 606,000.
XLMedia management believes that after integration into the group, the assets will generate significantly more income through closer collaboration with CBWG Sports, the betting company it acquired in December 2020.
The addition of Saturday Football Inc to XLMedia’s portfolio will create significant cross-marketing opportunities for the group at large and provide good reach in the Southern and Midwestern states, including markets that have yet to legalize. sports betting, XLMedia said.
“This transaction provides additional depth of operation and reach to our sporting footprint which we believe is rapidly becoming an important growth engine for our business,” said Stuart Simms, CEO of XLMedia.
“With the next season of college football about to begin, the timing of this transaction couldn’t be better with our growing presence in the United States ideally positioned to further support the Saturday Football Inc team,” he said. -he adds.