MUMBAI: Turner Latin America and Esporte Interativo (EI) have announced that Turner has shelled out R$ 80 million to acquire a considerable minority stake in EI through a capital raise. 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.
"We are extremely happy to announce this strategic partnership with Turner, a media group that has been a benchmark for us and that we have always admired. 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 multiplatform content distribution. The size of our dream has just increased considerably with this deal," stated EI CEO Edgar Diniz.
"This investment in EI marks an importantBrazil strategic step for Turner in , our largest market in Latin America," said Turner Latin America president Juan Carlos Urdaneta. "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.
