Livestream shopping platform NTWRK is acquiring streetwear, music and sports-centric media company Complex Networks. The deal will create a new entity that the two companies claim will be “a new destination for ‘superfan’ culture” and bring an e-commerce marketplace into the former media brand’s ecosystem. The news was announced Wednesday (Feb. 21), with investment from Main Street Advisors, Universal Music Group, Goldman Sachs and Interscope Records founder Jimmy Iovine. UMG will also come on board as a strategic partner and current Interscope chairman/CEO John Janick will join the company’s board.
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