ENGAGE SPORTS MEDIA ANNOUNCES INVESTMENT FROM MTG
The investment by Modern Times Group (MTG) will see it take a 22% stake in Engage Sports Media. This is a strategically important investment that will allow ESM to accelerate its growth and focuses on content IP development, technical tools and adding new talent across the business.
ESM and MTG will work closely together to realize synergies across all digital content and media platforms. With the increasing demand for digital transformation, ESM will increase its focus on working with sports rights holders to build their media inventory that delivers content to audiences globally.
“This investment reflects our focus on becoming the leading digital video entertainment company in each of our markets, and our strategy to invest in relevant, complementary and scalable digital brands, content and communities. We are happy to team up with this talented company and the strategic fit is compelling. Sport is in the DNA of both our companies and there are many benefits of working together more closely in terms of digital premium product development and distribution.“
ARND BENNINGHOFF, CEO, MTGx
“The investment from MTG provides the funds to expand our services and operations for sports rights holders. It also provides a catalyst to invest with our partners into the development of IP, content and format assets. We are excited to partner with MTG, with whom we share an entrepreneurial approach and vision.”
GREGG OLDFIELD, CEO, ESM
Arnd Benninghoff, CEO MTGx joins the ESM Board of Directors. Casey Harwood, Commercial Director, steps up to join the ESM Board of Directors. Gregg Oldfield continues in his role as CEO and Chairman of the Board.
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