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WWE is one of a handful of companies to invest in a sports broadcasting company FloSports, Inc., reports the Austin (Texas) Business Journal.
FloSports has acquired $21.2 million of funding to help “boost the number of niche sports it broadcasts online.” WWE is one of the investors along with DCM Ventures, Bertelsmann Digital Media in New York City, Discovery Communications, and Causeway Media Partners. WWE’s share was not disclosed.
The online sports broadcaster currently live-streams track & field, MMA, and Olympic sports, including amateur wrestling. FloSports currently does not broadcast pro wrestling, but the “company isn’t ruling it out.”
It’s unclear what WWE’s plans are for their investment in the company.
FloSports offers their service on a subscription basis, like WWE Network, but with a heftier price tag of $20/month or $150 for the year.
Update: Discovery Communications announced a “joint venture” with WWE for the investment in FloSports.
It’s still unclear what the benefit is to WWE and Discovery for the shared $21.2 million investment in the online sports broadcaster.