TV Azteca, the television network based in Mexico, has entered a term sheet with Black Ride Acquisition Corp. which would provide for TV Azteca to become a shareholder in esports entertainment company Allied Esports.
TV Azteca will acquire $5 million in shares of Black Ridge Acquisition Corp., aiming to position Allied Esports strongly in the Mexican esports market.
“Continuing to expand our footprint around the world with likeminded leaders and innovators is imperative to our success, and we are delighted to partner with TV Azteca as we enter Latin America with a smart, aggressive plan. The Mexican and Latin American market presents incredible potential, and this partnership, featuring two first-movers in esports, entertainment and distribution, is a winning combination,” Frank Ng, Co-CEO of Ourgame International Holdings said.
“We are enthusiastic about our investment in Allied Esports and the prospect of joining forces to become the clear leader in the delivery of esports entertainment in the region. This relationship represents a transformational step for TV Azteca and for the millions of members of the esports community in Latin America,” Benjamin Salinas, CEO of TV Azteca said.