XLMedia Acquires Saturday Football Inc. for USD $23 Million
Founded in 2014, Saturday Football Inc. operates two leading college football media sites, saturdaydownsouth.com and saturdaytradition.com, which cover the popular Southeastern Conference (“SC”) and Big 10 college sports conferences. Combined, the sites generate an audience of approximately 10 million visits per month.
XLMedia will pay an upfront consideration of US$11.0 million in cash plus an additional US$12.0 million, payable over three years. In addition, the founders, who are remaining with the business, will receive US$1.0 million in long-term incentive shares of XLMedia as detailed below. The Acquisition will be funded from XLMedia’s existing cash reserves.
The acquisition of Saturday Football Inc. follows the acquisitions of Sports Betting Dime and CBWG Sports (“CBWG”) which, when combined, significantly strengthen XLMedia’s position in the fast-growing US sports market. The addition of Saturday Football Inc to XLMedia’s portfolio will create significant cross-marketing opportunities for the wider Group and provides good reach across the South and Midwest States, including markets yet to legalise sports betting.