Nazara Technologies, an Indian gaming and sports media company, has announced that its subsidiary, Sportskeeda, has acquired a majority stake in the US-based Pro Football Network (PFN). This move is part of Nazara’s strategy to expand its presence in the global sports media industry.
PFN is a digital media company that covers professional football in the United States. The company provides analysis, news, and insights on the NFL and college football. With this acquisition, Sportskeeda aims to strengthen its position as a leading digital sports media company and expand its reach to the American audience.
According to Nazara’s official statement, the acquisition will allow Sportskeeda to leverage PFN’s expertise in the US sports industry and expand its coverage to other sports. The company plans to introduce new content formats, including video and podcasts, to enhance its engagement with users. The acquisition will also enable Sportskeeda to tap into the lucrative US sports advertising market and generate more revenue streams.
The CEO of Sportskeeda, Porush Jain, expressed his excitement about the acquisition, stating, “PFN has a strong reputation in the US sports media industry, and we are thrilled to partner with them. This acquisition will provide us with the opportunity to reach a wider audience and offer more engaging content to our users. We are confident that this partnership will be beneficial for both companies and will drive growth for Sportskeeda.”
Nazara Technologies, which went public in March 2021, has been aggressively expanding its presence in the sports media and gaming industries. The company has recently acquired a majority stake in another US-based company, Halaplay Technologies, which operates a fantasy sports platform. Nazara has also partnered with several international sports organizations, including the NBA and the IPL, to provide digital content to users.
Overall, the acquisition of PFN is a strategic move for Nazara and Sportskeeda, as it will allow them to expand their presence in the lucrative US sports media market and enhance their engagement with users. With the continued growth of digital media and sports consumption, this acquisition is likely to drive significant growth for both companies in the coming years.