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German Media Company Bertelsmann Invests In U.S. Online Sports Network FloSports

German media company Bertelsmann has invested in FloSports, a U.S.-based online sports media network specializing in live events, according to Jörn Krieger of BROADBAND TV NEWS. Through its Bertelsmann Digital Media Investments fund, "the parent company of RTL Group participates" in a $21.2M financing round for the startup. BDMI and Silicon Valley fund DCM Ventures "led the investor circle, with participation from media companies Discovery Communications and World Wrestling Entertainment" plus existing investor Causeway Media Partners. FloSports "focuses on live sports and currently operates a direct-to-consumer subscription-based network" of 14 sports portals specializing in wrestling, grappling, boxing, volleyball and other sports. In recent months, FloSports has "live-streamed events such as Europe’s Strongest Man, the European Jiu-Jitsu IBJJF Championship and the 2016 World Jiu-Jitsu IBJJF Championship" (BROADBAND TV NEWS, 8/16).

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