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Remark Media invests $1M in Bombo Sports

Remark Media announced that it has loaned $1M to Bombo Sports & Entertainment, a sports documentary film company that since its founding has created over 75 original films including Manchester United: Beyond the Promised Land, Ultimate Jordan, and Still We Believe: The Boston Red Sox Movie. Additionally, Remark Media and Bombo Sports are in the process of negotiating a proposed acquisition of Bombo Sports by Remark Media. Remark Media expects that its acquisition of Bombo Sports will be completed within the next 45 days. However, Remark Media and Bombo Sports have not entered into any binding agreements with respect to such proposed acquisition and Remark Media cannot provide any assurances that it will be able to complete such transaction within the expected timeframe or at all. Additionally, Remark and Bombo are jointly working on global monetization strategies for the existing library.