Philadelphia-based broadcasting firm Entercom Communications Corp. (ETM:New York) has acquired sports activities information and iGaming affiliate platform QL Gaming Group for about $32 million.
In response to an official firm press launch, the Philadelphia-headquartered firm closed on the all-cash deal on Tuesday, November 10, 2020, with the transaction offering QL Gaming’s information, analytics, and insight-driven content material to the main audio and leisure firm’s sports activities broadcast stations.
Chairman and Chief Government Officer for Entercom, David Area mentioned in a press release…
“Because the sports activities betting market continues to develop exponentially, the acquisition of QL Gaming Group is an ideal match for our unmatched sports activities audio platform.”
Entercom mentioned that underneath its first full 12 months of possession, in 20121, QL Gaming Group is anticipated to generate some $12 million in income.
The New York-based platform’s know-how portfolio consists of sports activities betting information and analytical capabilities (BetQL), day by day fantasy sports activities (RotoQL), simulation-based sports activities final result predictions and recreation forecasting (AccuScore), and complete analytical protection of the ATP and WTA Excursions (TennisInsight.com), every with respective subscriber base and licensing alternatives.
“Integrating QL’s analytics and content material with our sports activities manufacturers allows us to ship unparalleled experiences for sports activities followers. The acquisition builds on our monitor document of digital progress and additional enhances our direct-to-consumer know-how portfolio with information and analytics capabilities, whereas additionally including an revolutionary new subscription providing to our platform.”
Chief Government Officer for QL Gaming Group, Justin Park will proceed to steer the enterprise, reporting to Mike Dee, Entercom’s president of sports activities, and J.D. Crowley, chief digital officer.
“We’re thrilled to be becoming a member of the main sports activities audio platform, bringing our betting insights and experience to such a loyal and devoted fan base. Between our capabilities to make bettors higher and the affect Entercom’s platform gives, we are able to now provide an entirely distinctive proposition to the sports activities fanatic that’s second to none.”
On the time of publication on Thursday, shares of Entercom Communications Corp. had been up 1.06 % at $1.90.
Sizzling on the heels of the QLGG acquisition and Entercom introduced Wednesday a brand new content material distribution partnership with multiplatform media firm Beasley Media Group, LLC.
Underneath the phrases of the settlement, the subsidiary of Florida-based Beasley Broadcast Group, Inc. will add live-stream channels for every of its 64 radio properties throughout 15 markets to RADIO.COM, together with all of its premium on-demand audio and podcasts.
Commenting on the deal, Vice President of Enterprise Improvement for Entercom, Corey Podolsky mentioned…
“We’re delighted to deliver Beasley Media Group aboard the RADIO.COM platform and its unimaginable stations throughout information, leisure, music and sports activities. This partnership will give Beasley’s 20 million weekly listeners a brand new vacation spot to devour their favourite audio content material, whereas offering our current shoppers extra choices to fulfill their listening habits.”
Chief Content material Officer, Beasley Media Group, LLC., Justin Chase added…
“Beasley is proud to companion with our buddies at Entercom and RADIO.COM. Listeners are consuming our content material in additional locations than ever and we’re excited to develop the distribution for our wonderful manufacturers on this first-class audio platform.”