Sir Richard Branson's Virgin Group has made a strategic investment in Sportsrocket, the digital video distribution venture started by TV sports executive Brian Bedol.
Sportsrocket produces, manages, distributes and monetizes content for sports properties including Big Ten Network, the National Lacrosse League, Major League Soccer, the PGA Tour and eLeague.
Virgin Group's investment will accelerate Sportsrocket's global rollout. Sportsrocket is exploring partnerships with Virgin properties, including Virgin Sport, which stages sports festivals in London and San Francisco.
The value of the investment was not disclosed.
"As a company, we're extremely excited to work with Virgin," said Bedol, CEO of Sportsrocket. "Personally, Richard Branson has long been my entrepreneurial hero, so the opportunity to build Sportsrocket with him is fantastic. Virgin believes, as we do, that sports fans deserve to be able to watch every game, event, and athlete that they care about, and we're working together to make that a reality."
"I have always been a fan and participant of niche sports such as kitesurfing and invested in Sportsrocket to help connect enthusiasts like me with others around the world who share similar passions," said Branson. "We look forward to working with Brian to support his global ambitions."
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.