Sports fans have something to cheer about when it comes to watching their favorite Olympics competitions on mobile devices, thanks to partnerships between social media companies and major franchises. The trend is driving mergers and acquisitions in video technology and content. For example, in 2015, Slate Capital Group bought Broadcast Sports Inc. from L-3 Communications (NYSE: LLL). Broadcast Sports provides wireless technology for sports programming, including the Olympics.
The National Football League has also been looking to stream more games on wireless devices.Twitter Inc. (NYSE: TWTR) and the NFL have reached an agreement under which Twitter will run at least 10 Thursday night NFL games in 2016. The arrangement includes highlights, along with pre-game and post-game broadcasts. In June 2016, Twitter agreed to acquire Magic Pony Technology. One of the main purposes of the acquisition is so Twitter can improve video quality in tweets. Magic Pony’s technology is designed to enhance images and videos.