21st Century Fox Invests In Caffeine - Quick Facts

(RTTNews) - 21st Century Fox (FOXA, FOX) and Caffeine, a social broadcasting platform for gaming, entertainment, and other creative content announced that 21CF led a round of funding, which also included participation from existing Caffeine investors Andreessen Horowitz and Greylock Partners, and other undisclosed partners. 21CF invested a combined $100 million into Caffeine and a newly formed venture called Caffeine Studios that is jointly owned by FOX Sports and Caffeine. Lachlan Murdoch, 21CF's Executive Chairman, will join Caffeine's Board.

Caffeine also announced a content agreement with Live Nation to bring live music concerts to the social broadcast platform in fourth-quarter of 2018.

21CF's stakes in Caffeine and Caffeine Studios will be part of the proposed new Fox, the company that will be formed upon completion of the proposed transaction between 21CF and The Walt Disney Company.