Genius Sports buys Legend for $1.2bn as it looks to monetise sports fans – G3 Newswire
Summary
Genius Sports has agreed to acquire Legend, a digital sports and gaming media network, in a deal worth up to $1.2bn — $900m payable at closing plus an earn‑out of up to $300m. Legend operates a scaled media platform and marketing technology that connects sports fans researching teams, players, odds and scores with sportsbooks, gaming products and advertisers at high‑intent moments.
The acquisition is expected to be immediately accretive to Genius Sports’ adjusted EBITDA margins and free cash flow conversion while preserving at least a 20% Group revenue CAGR through 2028. On a 2026 annualised pro forma basis the combined business is forecast to reach roughly $1.1bn in revenue and $320–330m in Group Adjusted EBITDA with circa 50% free cash flow conversion.
Legend brought 320 million visits and 118 million unique visitors in 2025, with strong returning audience rates and syndication partnerships with major publishers such as Sports Illustrated and Yahoo Sports. Genius Sports will integrate Legend’s audience and marketing tech into its FANHub platform to offer unified access to more than 2,000 sports, media and betting partners.
Key Points
- Deal value: up to $1.2bn — $900m at close plus up to $300m earn‑out.
- Immediate financial impact: expected to be accretive to adjusted EBITDA margins and free cash flow conversion.
- 2026 pro forma guidance: ~ $1.1bn revenue and $320–330m Group Adjusted EBITDA, ~50% free cash flow conversion.
- Legend metrics (2025): 320 million annual visits from 118 million unique visitors; high repeat engagement.
- Commercial proposition: Legend’s marketing tech connects fans in high‑intent moments to sportsbooks, gaming products and advertisers; content is also syndicated to major publishers.
- Strategic fit: integration via Genius Sports’ FANHub aims to create a fully integrated sports and gaming media network, increasing audience, inventory and monetisation capabilities.
Context and relevance
This deal is a clear sign of consolidation at the intersection of sports data, media and betting. Genius Sports is moving beyond data and live‑event services into audience ownership and ad monetisation, using Legend’s traffic and tech to sell higher‑value inventory and drive predictable revenue. For operators, publishers and ad tech players this reshapes distribution and monetisation channels — expect tighter control of fan journeys and more vertically integrated advertising and affiliate flows.
Why should I read this?
Short version: if you care about sports media, betting or ad monetisation, this is big. Genius has just bought a huge audience plus the tech to turn attention into cash — fast. Read on if you want to know how fan audiences and ad inventory are likely to be reshaped over the next few years.