Perform, the British digital rights firm has entered into a partnership with Sporting News, the US media brand to boost its expansion into the North American Market.
The British firm was floated two years ago in London and it has made its business in the purchase of digital media rights for sporting events. It also earns in supplying video clips or live content to news media websites and bookmaker websites.
On the other hand, Sporting News has a long historic run after being established in 1886 as a print magazine. Coloquially known as the "Bible of Baseball" until it opened up to other sports in 1960. It switched to the digital format in 2012.
The British based firm would own 65% of the venture and has the right to buyout the shares of ACBJ, the current owners of Sporting News which total 35%. The buyout amount is at US$65 million and is available for exercise as a right until 2017. It would then rise to US$85 million until 2019.
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