SEGG Media Corporation (NASDAQ: SEGG, LTRYW) has taken a significant step forward in its expansion within the motorsport industry by detailing its strategic investment in Veloce Media Group. This move includes Veloce's recent acquisition of Quadrant, a motorsport and content brand co-founded by Formula 1 driver Lando Norris. The deal, funded by the initial tranche of SEGG's $7.59 million subscription agreement, grants SEGG a 12.4% stake in Veloce, with the option to increase ownership to 51%.
The acquisition of Quadrant, known for its strong brand equity and notable shareholders such as Zak Brown and Adrian Newey, complements SEGG's ambitions in the digital motorsports media space. With Veloce reporting $17.5 million in revenue for FY2024 and boasting 750 million monthly digital views, SEGG is strategically positioning itself through its Sports.com division to capitalize on the growing demand for immersive fan engagement and digital content in the motorsport sector.
This development is not just a milestone for SEGG Media Corporation but also signals a broader trend of media companies investing heavily in digital and interactive content to capture the attention of global audiences. The implications of this deal extend beyond the immediate financial gains, offering a glimpse into the future of sports media where digital platforms play a central role in fan engagement and content delivery.
For more details on the press release, visit https://ibn.fm/lvCas.
