Philadelphia-based broadcasting company Entercom Communications Corp. (ETM:New York) has acquired sports data and iGaming affiliate platform QL Gaming Group for approximately $32 million.
According to an official company press release, the Philadelphia-headquartered company closed on the all-cash deal on Tuesday, November 10, 2020, with the transaction providing QL Gaming’s data, analytics, and insight-driven content to the leading audio and entertainment company’s sports broadcast stations.
Chairman and Chief Executive Officer for Entercom, David Field said in a statement…
“As the sports betting marketplace continues to grow exponentially, the acquisition of QL Gaming Group is a perfect fit for our unrivaled sports audio platform.”
Entercom said that under its first full year of ownership, in 20121, QL Gaming Group is expected to generate some $12 million in revenue.
The New York-based platform’s technology portfolio includes sports betting data and analytical capabilities (BetQL), daily fantasy sports (RotoQL), simulation-based sports outcome predictions and game forecasting (AccuScore), and comprehensive analytical coverage of the ATP and WTA Tours (TennisInsight.com), each with respective subscriber base and licensing opportunities.
“Integrating QL’s analytics and content with our sports brands enables us to deliver unparalleled experiences for sports fans. The acquisition builds on our track record of digital growth and further enhances our direct-to-consumer technology portfolio with data and analytics capabilities, while also adding an innovative new subscription offering to our platform.”
Chief Executive Officer for QL Gaming Group, Justin Park will continue to lead the business, reporting to Mike Dee, Entercom’s president of sports, and J.D. Crowley, chief digital officer.
“We are thrilled to be joining the leading sports audio platform, bringing our betting insights and expertise to such a loyal and dedicated fan base. Between our capabilities to make bettors better and the influence Entercom’s platform provides, we can now offer a wholly unique proposition to the sports enthusiast that is second to none.”
At the time of publication on Thursday, shares of Entercom Communications Corp. were up 1.06 percent at $1.90.
Hot on the heels of the QLGG acquisition and Entercom announced Wednesday a new content distribution partnership with multiplatform media company Beasley Media Group, LLC.
Under the terms of the agreement, the subsidiary of Florida-based Beasley Broadcast Group, Inc. will add live-stream channels for each of its 64 radio properties across 15 markets to RADIO.COM, along with all of its premium on-demand audio and podcasts.
Commenting on the deal, Vice President of Business Development for Entercom, Corey Podolsky said…
“We’re delighted to bring Beasley Media Group aboard the RADIO.COM platform and its incredible stations across news, entertainment, music and sports. This partnership will give Beasley’s 20 million weekly listeners a new destination to consume their favorite audio content, while providing our existing consumers more options to satisfy their listening habits.”
Chief Content Officer, Beasley Media Group, LLC., Justin Chase added…
“Beasley is proud to partner with our friends at Entercom and RADIO.COM. Listeners are consuming our content in more places than ever and we are excited to expand the distribution for our amazing brands on this first-class audio platform.”
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