Mexico Broadcasting Giant Invests $5 Million in Esports Company

  • TV Azteca buying $5 million of shares in acquisition vehicle
  • Allied Esports will operate esports venues and produce videos

Photographer: Patrick T. Fallon/Bloomberg

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Mexican television giant TV Azteca SAB is investing in Allied Esports Entertainment, a company hoping to capitalize on the growing world of competitive video gaming.

Azteca is buying $5 million worth of shares in Black Ridge Acquisition Corp., which will become Allied Esports Entertainment following its pending acquisition of two closely held brands -- a deal that’s expected to close next month. Allied’s goal is to operate esports arenas, distribute content generated at those venues, and sell viewers on a new online tournament platform to be launched next year.