MUMBAI: IMG, the global sports, fashion and media company, has acquired a minority equity stake in London-based Sports New Media.

SNM manages, moderates and monetizes social media on behalf of their high profile sporting clients; including athletes, associations and brands. SNM currently reaches over 100 million sports fans across their Facebook pages alone.

SNM is the only sports specific Facebook Preferred Marketing Developer in the world, and owns and operates sports-oriented websites such as GiveMeFootball which provides complementary content for its social media fans.

IMG Media SVP Digital Media Ben Nicholas said, "Sports New Media is a critical component of IMG?s digital strategy. We think that SNM?s unique, proven approach to social media optimization will provide an attractive solution to our clients and partners."

"We?re very excited to be an official member of the IMG team," said Sports New Media Founder Jae Chalfin. "IMG has access to many of the world?s highest profile athletes, celebrities, events and sports organizations. We expect that SNM will be able to enhance many of those relationships."

Sports New Media CEO Nick Thain said, "We think IMG and Sports New Media complement each other well. This partnership will allow us to take our clients to a whole new level, moving us closer to our goal of bringing fans, athletes and brands closer together through Social Media.

MUMBAI: Bloomberg has entered into a joint-venture partnership with IMG, the global leader in sports, fashion and media, to expand and accelerate the growth of its vertical division, Bloomberg Sports.

The new venture will still be majority owned by Bloomberg and will be located in offices in New York and London. The new venture will retain the name Bloomberg Sports, and will be funded through the partnership created by both entities.

IMG will have a strong minority equity position and will provide enhanced marketing, sales and production assistance for both the existing Bloomberg Sports analytics products as well as a new series of projects that will be rolled out this summer.

They will include new ventures in international professional soccer as well as greatly enhanced fantasy analytic products for NFL football.

This will be in addition to the work the company is already doing in Major League Baseball both on the consumer and professional level. Other products and services are currently in development with additional professional and consumer sports brands which will be announced at a later date.

?We are very excited to partner with IMG, one of the most respected global leaders in sports and entertainment, to expand a business that was the brainchild of two entrepreneurial employees and incubated through Bloomberg in just two years,? said Bloomberg CEO Dan Doctoroff.