In a transformative move for the global sports data and media landscape, Genius Sports Limited (NYSE: GENI) has announced a definitive agreement to acquire Legend, a premier digital sports and gaming media network, for a total valuation of up to $1.2 billion.
The deal includes $900 million payable at closing and an additional $300 million earnout tied to future performance thresholds.
A New Era of Fan Monetization
Legend has established itself as a powerhouse in monetizing sports audiences, boasting 320 million annual visits and over 118 million unique visitors in 2025 alone.
By integrating Legend’s scaled media network, which syndicates content across giants like Yahoo Sports and Sports Illustrated, Genius Sports aims to create a fully integrated ecosystem that connects fans directly with sportsbooks and advertisers.
Mark Locke, CEO of Genius Sports Limited, emphasized the strategic weight of the acquisition:
“This deal accelerates our strategic and financial objectives, supercharges fan monetization, and builds a fully integrated sports and gaming media network. For Genius Sports and our global partners, it delivers more data, more audience, more inventory and greater monetization of sports fans. The acquisition of Legend will drive higher margins and stronger free cash flow, positioning Genius Sports to immediately transform the market and grow the size and scale of our business”.
Financial Outlook and Strategic Growth
The transaction is expected to be immediately accretive to Genius Sports’ EBITDA margins. On a 2026 pro forma basis, the combined entity is projected to generate approximately $1.1 billion in revenue and $320–330 million in Adjusted EBITDA. Looking further ahead, the company has set an ambitious 2028 benchmark of $1.6 billion in revenue.
Nick Kisberg, Founder of Legend, added:
“Joining forces with Genius Sports brings together two world-class teams, unlocks unparalleled growth opportunities for our partners and products, and gives us an even stronger platform to scale. I am immensely proud of what we have built and the decades of hard work that have brought us here today”.
The acquisition is slated to close in the second quarter of 2026, funded primarily through an $850 million Term Loan B issuance.
