21st Century fox invests $100 million into new esports content platform
Esports continues to draw investments from non-endemics around the globe, as 21st Century fox makes a significant $100 million investment into the industry.
The Murdoch family-owned 21st Century Fox has invested a combined $100 million into Caffeine and a newly-formed venture Caffeine Studios that is jointly owned by FOX Sports and Caffeine.
The new studio will leverage FOX Sports’ expertise in live events and programming to create exclusive esports, video game, sports, and live entertainment content for Caffeine’s next-generation social broadcasting platform.
In addition, Lachlan Murdoch, 21st Century Fox’s Executive Chairman, will join Caffeine’s Board.
21st Century Fox’s stakes in Caffeine and Caffeine Studios will be part of the proposed new “Fox,” the company that will be formed upon completion of the proposed transaction between 21st Century Fox and The Walt Disney Company, and where Murdoch will serve as Chairman and CEO.
CEO of Caffeine, Ben Keighran said: “We want to bring the world together around friends and live broadcasts.”
“It’s an ambitious goal, but one we believe is attainable with the support of our amazing new partners, our awesome and ever-growing community, and the content that together, we can bring onto the platform.”
21st Century Fox’s Executive Chairman, Lachlan Murdoch added: “The combination of the Caffeine platform with a content studio that benefits from Fox Sports’ expertise in live events and programming will help position Caffeine to deliver compelling experiences in esports, video gaming and entertainment.”
“We are excited to partner with Caffeine and build something special for fans in the growing live social streaming esports and gaming space.”