Turner Latin America has invested R$ 80 million to acquire a significant minority stake in Esporte Interativo (EI) through a capital raise. The proceeds will be invested in the business and EI will continue to operate as an independent company and be run by its current managing partners, who founded the company in 1999. With this investment, Turner will become the largest single shareholder of EI, and assume two out of seven seats on the company’s Board of Directors. The EI Board has been active since 2004.
“Having Turner as a strategic partner will significantly amplify our investment capacity and give us access to state-of-the-art content production. It will also provide the opportunity to develop new business models in the dynamic environment of multi-platform content distribution. The size of our dream has just increased considerably with this deal,” stated Edgar Diniz, CEO of EI.
“This investment in EI marks an important strategic step for Turner in Brazil, our largest market in Latin America,” said Juan Carlos Urdaneta, President, Turner Latin America. “EI has carved out a unique position in the Brazilian sports media landscape thanks to its compelling programming, multi-platform presence, and seasoned management team. We are thrilled to partner with such a strong company and look forward to working with EI to further expand its business into new market segments.”
The proceeds will be primarily invested in the acquisition, production and distribution of content. EI already holds the rights of premium sport events, such as Copa do Nordeste; UEFA’s Champions League and Europa League; Spanish Supercup and Copa del Rey; German Cup; French Cup; qualifications for the 2014 World Cup; NFL; Bellator; and WWE; as well as key Brazilian Olympic sports events, such as Volleyball (Brazilian Men’s and Women’s Volleyball Superligas, FIVB Volleyball World League and FIVB World Grand Prix); International Judo World Circuit; Handball World Championships; and Tae-kwon-do World Championships.