Japanese games outfit Nexon has invested $400 million into American independent film and television production company AGBO, at a valuation of $1.1 billion.
AGBO was founded in 2016 by American directors Anthony and Joe Russo, who are best known for directing Avengers: Infinity War and Avengers: Endgame.
Through the minority investment, Nexon will own 38 per cent of AGBO, making it the largest individual shareholder in the production company.
Nexon president of film and television and chief strategy officer Nick van Dyk and Nexon film and television SVP Tim Connors will join the Russo brothers and AGBO CEO Jason Bergsman on the board of AGBO.
A shared vision
“The ability to create and sustain blockbuster entertainment franchises across multiple markets for decades is deep in Nexon’s DNA,” said Nexon president and CEO Owen Mahoney.
“AGBO and Nexon share a fundamental vision for thrilling global audiences with content that spans multiple platforms and markets.”
Furthermore, Nexon has committed a potential additional investment of up to $100 million during the first half of 2022, which is available at the request of AGBO.
Co-founders and executive chairman of AGBO Anthony and Joe Russo commented: “AGBO is driven by creatives who aspire to work at the universe scale. AGBO’s partnership with Nexon represents a significant juncture for entertainment, furthering the convergence of franchise filmmaking and games with a global reach. Our collaboration is based on our shared vision of the future of storytelling and utilises the unique talents of both companies.”
Last month, Nexon revealed that it intends to merge two of its subsidiaries, Nat Games and Nexon GT, into a single games focused entity, Nexon Games. The merger is expected to take place on February 8th, 2022.
