Mega sports content holding company Minute Media has announced that it has acquired STN Video, a leading sports content distributor.
The deal’s value was not revealed but is estimated at around $150 million.
Minute Media raised around $100 million in debt and equity from HSBC Innovation Banking and funds and accounts managed by BlackRock at a valuation of over $1 billion to help fund the deal.
The deal will see STN Video’s “additional technology capabilities, distribution, and sports highlight content rights” added to its ecosystem.
STN Video has content distribution partnerships in place with all US sport’s major franchise leagues, including American football’s NFL and baseball’s MLB, and Minute Media has said STN’s platform in that space will now complement its own Voltax Video infrastructure.
STN will also bring a content archive of over two million videos, from partnerships with those US sports leagues.
Founded in 2010, STN Video is headquartered in Victoria, Canada, with offices in New York City and Miami. The platform allows content publishers access to its video player and, as such, content from partnered services.
Minute Media, on the other hand, operates three digital sports content platforms:
- The Players’ Tribune
- 90min
- FanSided
They have a reach of over with a reach of 60 million daily users.
Asaf Peled, founder and chief executive at Minute Media said:
“Bringing STN Video into the Minute Media family is a big win for our owned sports content brands, distribution partners, and advertisers. With STN’s sports content highlight rights and award-winning video technology, Minute Media’s partners and clients will have access to a 360-degree view of the sports industry, combining content from athletes, teams, creators, and now, leagues.”
Matthew Watson, STN Video’s chief executive, added:
“STN Video was built for distribution partners who care about content, user experience, and monetization. We are thrilled to continue our journey with Minute Media to maximize our global video reach for content providers and advertisers across their unique platforms.”
