Nitro Circus merges with touring company
Extreme athletics brand Nitro Circus announced that it would be merging with the touring operation that helped produce its live shows and programs. The said merger would be funded with USD25 million by Raine Group, according to a report published by The New York Times.
Raine Group is a New York merchant bank that mainly deals with the entertainment sector. With the USD25 million new infusion that it provided, Nitro Circus planned to expand its performances with its unified team, the report said.
Nitro Circus planned permanent live shows in Las Vegas and in Macau. Its spectacles would include death-defying stunts by skateboarders, scooter riders, motorcyclists, and other wheeled riders. The performance group also made plans to set up a training academy for new talents for its heart-stopping shows, the report stated.
Raine Group would now become a large minority shareholder in the newly combined company. Its total valuation, however, was still unconfirmed, The New York Times said.