International technology, media and telecoms law firm Olswang has advised global content production company FremantleMedia on its investment into Squawka, the London-based football digital media business. FremantleMedia is now the single largest shareholder in the business, having taken an initial stake of almost 35% with options to increase its shareholding.
Squawka has enjoyed critical acclaim for its technology and its data-driven editorial and social media content, which reaches more than five million fans globally every day. Having raised a total of £5 million from a range of investors since launch in 2012, the investment by FremantleMedia will facilitate the future growth of Squawka and allow it to continue to serve its loyal user-base with a unique brand of sports content.
FremantleMedia creates, produces and distributes some of the best-known content in the world across traditional TV and digital platforms, and the partnership with Squawka reflects FremantleMedia's ongoing commitment to investing in digital media. Squawka will work with The Football Republic (TFR), the football fan network run by FremantleMedia’s UK digital studio, to create new editorial strands using Squawka’s data and content with TFR’s engaged fan base, sharing on and off-screen talent across both properties and offering brands opportunities for even deeper engagement with football fans on digital platforms.
Robin Chalmers, General Counsel of FremantleMedia Group Ltd, commented, "This was an important digital media investment for FremantleMedia and once again we were impressed by, and valued, the Olswang team's corporate, media and sports expertise, their responsiveness and understanding of our commercial concerns, each of which were critical to delivering the deal within a tight timetable."
Paul Guite, Partner and Co-head of Media at Olswang, commented, "We are delighted to have advised FremantleMedia on this investment. With support from FremantleMedia we look forward to seeing Squawka develop further as one of the world's most exciting digital media sports platforms and build on its already impressive global base of sports fans with compelling insights and content. We very much look forward to working with both of these companies in the future and seeing the continued success of the venture."
The Olswang team was headed by Corporate Partner Paul Guite, and supported by Corporate Associate Yasmine Meeajun, Tax Barrister Robert Sartor, Commercial Senior Associate Anna Soilleux, and Employment Senior Associate Edward Arnold.
