The amount of the transaction was not disclosed. As part of the deal, the investors have acquired a minority equity stake in MSM, and representatives from Columbia and Rho will join MSM’s Board of Directors.
The company will use the funds to expand its content operations, and make acquisitions and investments across the sports media landscape, including in the areas of content, distribution and technology.
Founded in 2012 by Peter Guber and Mike Tollin, MSM creates sports-themed programming for all platforms and creates, acquires and invests in businesses and assets across the sports content and media landscape. Since its founding it has produced content for ESPN, Turner Sports, Legendary Entertainment, and AOL, with numerous projects in development with major television, digital, feature film and sports entities.
Athlete representation agency CAA Sports participated in the formation of MSM.