▲ This file photo shows Nexon Korea. (PHOTO NOT FOR SALE) (Yonhap)

 

 

LOS ANGELES, Jan. 6 (Yonhap) – The game developer Nexon has decided to invest up to $500 million in Russo brothers’ film production company, who directed the Marvel movie “Avengers: Endgame.”

AGBO, a U.S. film production company founded by the Rousseau brothers, will receive Nexon's investment on Jan. 5 (U.S. time), according to Bloomberg News and Deadline Hollywood.

Nexon signed a contract to secure a 38% stake in AGBO by investing $400 million on Jan. 5.

Nexon also promised to purchase an additional $100 million worth of stake in the first half of this year if AGBO requests additional investment.

Through this investment, Nexon secured two seats at the AGBO board of directors.

Nick van Dyk, a former executive at Walt Disney who currently works as a senior vice president that leads LA-based film and TV arm, and Tim Connors, a former chief operating officer of Marvel Studios, will participate in the AGBO board of directors.
 

▲ This file photo shows Russo brothers, who produced "Avengers: Endgame." Left is Anthony Russo, right is Joseph Russo. (PHOTO NOT FOR SALE) (Yonhap)
Anthony·Joseph Russo brothers produced Marvel's top box office movies, such as “Avengers: Endgame,” “Avengers: Infinity War,” “Captain America: The Winter Soldier,” and “Captain America: Civil War,” and produced Netflix’s hit movie “Extraction” after they founded AGBO in 2017.

AGBO is currently evaluated as a film production company that worth $1.1 billion. Deadline analyzed that Nexon cooperated with AGBO with business of Metaverse and Virtual World in mind.

The Russo brothers evaluated, “AGBO’s partnership with Nexon represents a significant juncture for entertainment, furthering the convergence of franchise filmmaking and games with a global reach.”

AGBO then said it can produce movies or TV series using Nexon's game title, while Nexon can expand its business of game and virtual world based on AGBO’s films.

Vice President Van Dyk mentioned Nexon is at the forefront of game business opportunities, which are based on virtual world, adding that the investment is a huge victory for both Nexon and AGBO.

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