Spring Media acquires majority stake in digital platform provider StayLive
International sports media agency Spring Media has announced the acquisition of a majority share in StayLive, a digital platform service focusing on video and livestreaming for the sports market.
The sports media environment is undergoing revolutionary change as a consequence of the digital development. At the same time, Spring Media finds itself in an expansive phase and the acquisition is said to be part of the agency’s growth strategy.
Tobias Osmund, CEO at Spring Media, commented on the acquisition:
“Spring Media wants to be the natural partner for federations, leagues and teams who aim at developing the value of their rights. With the acquisition of StayLive we are laying another piece of the puzzle in making the Spring Media group able to offer all elements in the value chain.”
Earlier this year, the agency acquired a majority stake in Latvian Free to Air sports channel Sportacentrs and production company Polar HD, which specializes in cost-efficient production of international sports events. It also looks at additional acquisitions that would fit the overall business model, according to Osmund.
“StayLive has built a fast-growing, profitable operation within sports streaming led by a young and highly competent management; as part of the Spring Media group we believe they will gain even better prerequisites for further growth.”
StayLive will retain its founders as minority owners and part of the management team. Spring Media, instead, acquires its majority stake from passive owners and directed new issue of shares, providing capital for platform development and growth.
Pontus Karsbo, CEO & Co-founder at StayLive, comments on the acquisition:
“We are pleased to welcome Spring Media as new majority owner of StayLive. The management that laid the foundations for the company over the years remains at the helm, which means that Spring Media acquires shares of people who have not been operationally active in the company. With a strengthened ownership structure we are now ready to create new value by gearing up a level in the current product development phase.”
ABOUT SPRING MEDIA
Spring Media is a fast-growing international sports media agency that provides media rights distribution, as well as digital-, production-, distribution- and consulting services for sporting events. The company has a global reach with head office in Stockholm, and regional offices in Hamburg, Astana and Mexico City. Spring Media owns, manages, produces and distributes over 3,000 hours of live sports annually to over 200 broadcasters around the world.
StayLive is a digital platform service for video and streaming distribution focusing on the Swedish sports market. StayLive delivers a video service where leagues, federations or the individual club can distribute its content and create its business model. The Elite Series in Bandy, “Hockeyettan” and the Floorball Federation are some of its partners, through whom StayLive delivers thousands of matches to its viewers worldwide.
For additional information, please contact:
Tobias Osmund, CEO, Spring Media – +46 706 30 01 34 – firstname.lastname@example.org
Pontus Karsbo, CEO & Co-founder, StayLive – +46 722 36 89 12 – email@example.com