Fox takes 20% stake in Open Sports 24/07/2009 |
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Fox has taken a 20 per cent stake in Open Sports Network and will provide $20 million of on-line and on-air promotion.
The promotion will be through FoxSports.com on MSN, FoxSports.com, FoxSports and FSN's owned-and-operated regional sports networks.
Open Sports has secured an additional $4 million from private equity investors. It will use this amount to build an exclusive product line across major sports to support the new five-year agreement with Fox Sports.com has signed a five-year deal with Open Sports.
"Open Sports Network will unveil a suite of products through this additional round of funding, coupled with support by our new partner FOXSports.com," said Open Sports Network chairman and CEO Mike Levy.
The partnership also includes a revenue sharing component whereby the Fox Sports sales team will sell the new fantasy offerings in collaboration with Open Sports Network.
The Open Sports and FoxSports.com relationship includes fantasy football, baseball and other sports games.
Additionally, Open Sports Network has also included FoxSports chairman David Hill to its board of directors.
(Source: Indiantelevision.com)
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