Open Sports Network receives Fox injection
Fox Broadcasting Company, part of Rupert Murdoch's media empire, has taken a 20 per cent stake in the Open Sports Network fantasy games website.
The Open Sports Network produces several next generation social-powered sports experiences, combing social media, community tools and traditional sports content with best-of-breed fantasy sports games.
The media partnership will consist of Fox providing US$20 million worth of televised and online promotion for Open Sports and its products across FoxSports.com on MSN, FoxSports.com, the Fox Sports Network (FSN) and FSN's owned-and-operated regional sports networks.
A revenue sharing element to the deal will see Fox support the Open Sports Network's own in-house sales team and take a cut on sales of all new fantasy games.
Open Sports Network chairman and chief executive Mike Levy revealed that "a suite of products" will be unveiled as a result of the new partnership with Fox.
Furthermore, Fox Sports chairman David Hill now has a new seat on the Open Sports Network's board of directors.
The partnership is another piece of good news for the Open Sports Network. The company has also tied down a US$4 million venture-capital investment from its original private equity investors.blog comments powered by Disqus
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