Israeli digital content platform Minute Media today announced it has acquired Canadian sports content distribution company STN Video. No financial details were disclosed but industry sources believe the acquisition is for more than $150 million.
The acquisition of STN will bring additional technology capabilities, distribution and sports highlight content rights to Minute Media’s ecosystem of owned sports content brands, distribution partners and advertisers. STN holds premium partnerships with every major league in the US and an award-winning Online Video Platform, reaching tens of millions of unique users.
Minute Media was founded in 2011 by CEO Asaf Peled, Gili Beiman and Yuval Larom. Both Beiman and Larom are no longer active in the company.
Peled 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."
STN Video CEO Matthew Watson 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."
Minute Media has raised capital from both industry-leaders HSBC Innovation Banking and funds and accounts managed by BlackRock to help fund the deal.
Published by Globes, Israel business news - en.globes.co.il - on January 24, 2024.
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