Tuesday 20 September 2016 4:46 pm

ITV and Sky buy stakes in 24-hour video gaming TV channel

ITV and Sky have bought stakes in the owner of a channel that screens video gaming 24 hours a day.

The broadcasters have each invested £1.55m in Ginx TV for 16.5 per cent shareholdings.

Both companies also have the option to increase their stakes.

Read more: Sky invests $1m in air Drone Racing League in the UK

Ginx eSports TV, the UK and Ireland’s only 24-hour esports channel, launched on Sky in June.

Ginx TV reported gross assets of £0.9m and a pre-tax loss of £0.7m in the year to 31 December.

"We're really excited to have followed up our commercial partnership with Ginx with this investment, which will help us deepen our understanding of eSports and its audience,” said Emma Lloyd, Sky’s group director of business development and strategic partnerships.

Read more: Sky is bending it like Beckham, can BT Sport compete with it?

“At Sky we are committed to bringing new programmes and channels such as Ginx eSports TV to support and extend our leadership position in content."

Sky has also recently invested in the Drone Racing League and TV rights online marketplace TRX.

Ginx TV broadcasts Turner's ELeague tournament, FaceIt's eSports Championship Series, and Valve's The International Dota 2, among other programmes.