Lionsgate Invests in eSports Franchise

SANTA MONICA: Lionsgate has invested in the eSports franchise Immortals.

Lionsgate joins a consortium of investors that includes financier and philanthropist Michael Milken and previous investors Steve Kaplan, co-founder of Oaktree Capital and co-owner of The Memphis Grizzlies and the Premier League’s Swansea City, investor Gregory Milken, Third Wave entrepreneur Allen DeBevoise and CrossCut Ventures, among others. The Immortals currently compete worldwide for more than 200 million fans in League of Legends, Counterstrike GO, Overwatch and Super Smash Brothers.

Lionsgate’s investment in Immortals is the latest move in the company’s eSports initiative. Last year, Pilgrim Media Group, in which Lionsgate is a majority investor, partnered with ESL, the world’s largest eSports promoter, to create original eSports entertainment content for TV and digital platforms.

“We’re delighted to be an early mover in a market that has the potential to transform the face of sports entertainment,” said Lionsgate’s president of interactive ventures and games, Peter Levin. “Our involvement in eSports creates tremendous opportunities to develop new content and utilize our suite of distribution platforms for a coveted consumer demographic with compelling engagement metrics.  Collaborating with an elite group of partners, the combination of the Lionsgate and Immortals brands will be formidable.”

“Lionsgate joins a dream team of media, tech and traditional sports partners who share our vision of building a dynamic Immortals organization and a strong eSports foundation,” said Immortals’ chairman and CrossCut Ventures’ managing director, Clinton Foy.  “What we’re doing today in eSports is like the early days of building the NFL and NBA. It’s not the evolution of games—it’s the evolution of sports, technology and media.”

“Lionsgate is the perfect entrepreneurial partner for our Immortals family,” said Immortals’ CEO, Noah Whinston. “Immortals and Lionsgate are both focused on developing new entertainment formats, and we’re thrilled to collaborate with them at the cutting edge of eSports media.”