Investments

LONDON: Genius Sports Limited, the official data, technology and commercial partner that powers the ecosystem connecting sports, betting and media, announced Thursday that it has entered into a definitive agreement to acquire Second Spectrum, a leading provider of cutting-edge data tracking and visualization solutions, at an aggregate value of $200 million.

This acquisition combines two of the world’s most innovative sports data and technology companies to create a complete end-to-end offering for the sports, betting and media ecosystem, as per an official release.

May 06, 2021 17:05
LONDON: The FIA and Discovery have agreed a long-term partnership for the promotion of the FIA Electric GT Championship launching in 2023. Discovery, the global media group, was appointed by the FIA with its subsidiary, Eurosport Events, winning a competitive tender process to become the worldwide promoter of the FIA Electric GT Championship.
May 03, 2021 05:05
MUMBAI: Mogae Media, an integrated marketing and communications investments company owned by media and advertising veteran Dr Sandeep Goyal, has acquired a controlling stake in Rediffusion and its sister concern Everest Advertising for an undisclosed amount. The acquisition will now be merged under the Mogae brand and will not function as a separate entity.
Apr 28, 2021 23:04
NEW YORK: ESL Gaming, the world’s largest esports company, has announced the renewal of its long-standing partnership with Intel in what is the biggest brand partnership deal in esports history to date. 
Apr 28, 2021 20:04
LONDON: Discovery, Inc. has invested in Enduro Sports Organisation Ltd, owner and operator of the UCI recognised Enduro World Series (EWS) and EWS-E – the leading mountain bike and electric mountain bike championships.
Apr 27, 2021 17:04
MUMBAI: The Walt Disney Company announced Tuesday it is shutting down pretty much all of its pay-television business in South-East Asia and Hong Kong later this year, marking the end of an era for a media conglomerate that has had a huge entertainment supply chain in the region.
Apr 26, 2021 21:04
MUMBAI: GroupM ESP, the entertainment, esports and sports division of GroupM India, Monday released the sports sponsorship report for India 2020.  The size of the Indian Sports Industry in 2020 is estimated at Rs 5894 crores (Rs 58.94 billion). This report takes into consideration - sponsorship spends, celebrity endorsement and media spends on sports properties.
Apr 26, 2021 21:04
MUMBAI: Spotify CEO Daniel Ek's bid to buy Arsenal from Stan Kroenke has received the backing of Thierry Henry, Dennis Bergkamp and Patrick Vieira, according to UK's Daily Telegraph. Arsenal's participation in the European Super League, sparked protests outside the Emirates last week, with fans demanding that Kroenke sell the club.
Apr 23, 2021 20:04
NEW YORK: JP Morgan, the still-born European Super League's principal financial backer, has said it "misjudged" how fans would react to the breakaway competition. The American investment bank said it had committed €3.25 billion ($3.92bn) as start-up capital for the league, which posed a direct challenge to UEFA's Champions League and also threatened to devalue Europe's top domestic leagues.
Apr 22, 2021 20:04
CHENNAI:  The Tamil Nadu Cricket Association (TNCA) reportedly plans to start the fifth edition of the Tamil Nadu Premier League (TNPL) on June 4 in four districts in the state.  The eight franchises were reportedly asked to send their player retention list by April 18. 
Apr 21, 2021 14:04
MUMBAI: Talk about short-lived delusions of grandeur. Within 48 hours of its public unveiling, the grand plans for a breakaway European Super League (ESL) hatched, created and designed by the grubby men who run 12 of the richest clubs of Europe, and bankrolled to the tune of $5.5 billion (€4 billion) by JP Morgan, lay in tatters.