Nexon made a huge investment of $400 million in AGBO. The agreement is expected to accelerate Nexon’s global enlargement. The company was requested by AGBO to invest up to an additional $100 million in the first half of this year. Anthony and Joe Russo, Co-Founders and Executive Chairmen of AGBO, said:
“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 utilizes the unique talents of both companies.”
Owen Mahoney, President and CEO of Nexon, commented:
“The ability to create and sustain blockbuster entertainment franchises across multiple markets for decades is deep in Nexon’s DNA.”
“AGBO and Nexon share a fundamental vision for thrilling global audiences with content that spans multiple platforms and markets.”
Nexon will be provided at least 38% of AGBO which will make it the largest individual shareholder in the company.
AGBO Co-Founder Mike Larocca said the investment will provide a significant accelerant to their founding mission at AGBO – to delight audiences worldwide with ambitious stories told across all forms of media.