WME Gets $55M Investment

WME \ IMG won a $55 million investment from Fidelity Management and Research Co., making the mutual fund a strategic investor partner with Silver Lake and SoftBank in backing the sports and entertainment giant.

The company announced it will use both Fidelity and SoftBank’s investments “to advance its global growth strategy through new investments, acquisitions and joint ventures,” according to the April 20 announcement. WME IMG announced SoftBank’s $250 million cash infusion last month.

WME IMG also recently disclosed a new strategic partnership with London-based media and events company Frieze.