Lineups.com supports bettors by providing starting lineups and rosters for the NFL, NBA, MLB, NHL, US sports leagues, and for fantasy sports. The website considers all kinds of available player and team information, including injuries, news, performance, and trends. According to the company, Lineups.com has a strong market position in most of the regulated US states, including the recently launched states of Michigan and Virginia.
Lineups.com recorded sales of approximately USD 7.5 million in the last 12 months to 30 April 2021. Calculated for the first quarter of 2021, the company’s sales corresponded to roughly 10 percent of Catena Media’s total revenue. As Lineups.com is a sports-focused affiliation product, its sales can be expected to fluctuate significantly with the US sports betting calendar.
The purchase price represents a total cash payment of USD 39.6 million, to be payable in three installments: USD 25 million on closing, USD 9.6 million on the first anniversary, and USD 5 million on the second anniversary of the closing date. In addition, a contingent cash payment of USD 0.5 million will be due if the state of New York allows sports betting within three years of the closing date and certain revenue thresholds are met. No material conditions exist in respect of the transaction’s closure.
The acquisition will have a direct positive effect on Catena Media’s EBITDA as of the consolidation date on 4 May 2021.
The CEO of Catena Media Michael Daly, commented: “The acquisition of Lineups.com strengthens Catena Media’s leading position in the growing US betting market with a complementary product that fits perfectly into our existing US portfolio. It gives us a second, even stronger, national sports betting affiliation site, alongside thelines.com. This will allow us to capture more market share across North America, as well as to take advantage of shared tools across multiple Catena Media sites. Sam Shefrin, the seller and founder of Lineups.com, will bring his industry and technology focus to the Catena Media team and will work with us for the near future as an exclusive consultant to the business.”