Modern Times Group (MTG) has bought a 22% stake in cross-platform sports content company Engage Sports Media.
MTG said the investment, which was agreed for undisclosed terms, gives it the option to increase its shareholding in the future.
Commenting on the deal, Arnd Benninghoff, CEO of MTG’s digital accelerator arm MTGx, said that there is a compelling strategic fit between, as “sport is in the DNA of both our companies.”
“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,” he said.
Engage Sports Media CEO Gregg Oldfield said that the investment will allow it to expand its 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.”
Engage Sports Media works with sports rights holders to help them digitalise and monetise their content and make it available for global audiences – online, on-demand and on mobile.
Engage’s clients include The F.A, World Rugby and Manchester City Football Club. The company has also produced branded video projects for major advertisers, including DHL, Dove, HSBC and Vauxhall.