TV Azteca’s Allied Esports investment to launch new channel

Mexican media company TV Azteca will help to launch a digital esports and video gaming channel in the country after securing a significant investment in Allied Esports Entertainment, which controls dedicated esports properties and content production facilities.

Azteca has acquired a stake valued at $5m in Black Ridge Acquisition Corp., which will be renamed Allied Esports Entertainment in the coming weeks after deals were reached to acquire Allied Esports and its sister company, the World Poker Tour.

Azteca plans to work with Allied Esports Entertainment to launch the 24-hour channel and also establish content facilities in the Mexican market, whilst producing and distributing co-branded esports programming.

Allied Esports has also committed to developing a localised online esports tournament platform next year as part of what the two organisations have described as a “multi-platform approach”.

Additionally, the two parties will work together on a number of other initiatives, including the development of a network of esports talent across Mexico and beyond.

TV Azteca is due to complete due diligence on the deal by June 27.

“In Latin America, traditional TV is a really big part of the distribution of content,” Frank Ng, who will serve as chief executive of Allied Esports Entertainment, told the Bloomberg news agency. “It’s a really important format, and TV Azteca is extremely strong on that, particularly in sports.”