Fox, Open Sports Form Fantasy Game Alliance

FOX Fantasy Live

Fox has taken a 20% stake in Open Sports Network, operator of a multifaceted site with fantasy sports and social networking capabilities, while providing it with what it says is $20 million worth of on-air and online exposure.

Open Sports, headed by Mike Levy, the founder of what was CBSSportsline.com, also said it has received an additional $4 million in venture-capital funding from its original team of investors. That group put up a reported $10 million and includes ex-CEOs of E-Trade and Office Depot.

Under the Fox agreement, FoxSports.com and OpenSports.com will work together to develop new fantasy games. Open Sports will provide a backbone for offerings, such as Fox Fantasy Live for football, baseball and other sports.

The Fox deal also includes revenue sharing, where Fox Sports will sell sponsorships of the fantasy offerings.

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Fox will promote the year-old site on its sportscasts as well as its group of regional sports networks and online outlets. Fox Sports Chairman David Hill is joining the Open Sports board of directors.

Last year, the company signed an agreement with Dennis Rodman, where the former NBA luminary would write blog entries and upload videos to OpenSports.com. It is also looking to develop a slew of online communities around topics such as the NFL and NBA.

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