CXS ChallengerX plc

 
TIDMCXS 
 
10 May 2022 
 
                                ChallengerX plc 
 
                       ("ChallengerX" or the "Company") 
 
ChallengerX Signs First Digital Asset Monetization Agreement with TV 
Broadcaster, FOXD Network 
 
ChallengerX plc (AQSE: CXS) announces the signing of a Digital Asset 
Monetization Agreement ("DAMA" or "the agreement") with the TV broadcast 
network FOXD. 
 
Carrying an initial five-year term, the agreement grants the US-based 
broadcaster access to ChallengerX's Software-as-a-Service (SaaS) monetization 
platform, CXSports. In addition, the agreement will see FOXD Network join 
CXSports as a brand ambassador, promoting CXSports' monetization tools to its 
network partners and clients. 
 
FOXD Network is an online-first TV broadcaster aiming to democratize access to 
broadcast services and close the gap between minor sports leagues and the 
majors, such as the NFL and the NBA. Its leadership team includes CMO Heath 
Douglas, ex-ESPN and radio veteran, and CEO Joe Grimm. 
 
"We were genuinely impressed with the new monetization strategies CXSports' 
modules will unlock. Each one breaks with the traditional advertising model, 
allowing us to use them as a complement to our existing ad revenue streams," 
said Grimm. "We look forward to working with CXSports, and can't wait to start 
introducing our broadcast partners," he continued. 
 
ChallengerX COO Lucas Caneda said, "We are thrilled to be working with FOXD 
Network as both a client and brand ambassador. Sharing our vision of bringing 
new opportunities to amateur and semi-professional sports organizations, we 
couldn't ask for a more well-aligned partner." 
 
About ChallengerX plc: 
 
Listed on the Aquis Stock Exchange in London, ChallengerX plc is a 
Software-as-a-Service "SaaS 2.0" monetization technology and digital marketing 
company serving sports clubs, players, sports news sites, and other influencers 
around the world. Its technology helps its customers, at no cost, generate 
incremental recurring revenues from their existing followers via a proprietary 
LOPI ("Leverage Other People's 
 
Influence") strategy. 
 
ChallengerX also offers bespoke service packages that help clubs develop and 
build their brand, rapidly grow their base of fans, gain additional higher-end 
sponsors, and source and sell club merchandise through a club-branded eStore 
the Company operates on each club's behalf. 
 
This announcement contains information which, prior to its disclosure, 
constituted inside information as stipulated under Regulation 11 of the Market 
Abuse (Amendment)(EU Exit) Regulations 2019/310 (as amended). 
 
The directors of ChallengerX plc accept responsibility for this announcement. 
For further information please contact: 
 
ChallengerX plc 
 
Olivia Edwards               Phone: +44 7467 287353 
Chief Executive Officer      Email: olivia@challengerx.io 
 
John May                     Phone: +44 786 071 5075 
Non-Executive Chairman       Email: john@challengerx.io 
 
First Sentinel Corporate 
Finance Ltd (Corporate 
Adviser) 
 
Brian Stockbridge            Phone: +44 7876 888 011 
Jenny Liu                    Email: brian@first-sentinel.com 
 
 
 
END 
 
 

(END) Dow Jones Newswires

May 10, 2022 12:55 ET (16:55 GMT)

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