Sky has invested £1.55 million in Ginx TV, the owner of the UK & Ireland's only 24-hour eSports TV channel, GINX eSports TV.
ITV will invest an equal amount, and both companies will have the option to acquire further holdings.
The investment follows the launch of the channel on the Sky platform in June. GINX eSports TV showcases major eSports tournaments from across the globe, as well as unique, independent programming.
The schedule includes coverage of Turner's ELEAGUE tournament, FACEIT's eSports Championship Series, and Valve's The International Dota 2 , which GINX eSports TV will is covering live from its new King's Cross studio. Other content partners will include Riot, Activision, EGL, Gfinity and more will be announced.
The best of GINX eSports TV is also available to Sky Q customers, via the curated short-form online video section of the Sky Q EPG.
Outside the UK & Ireland, GINX eSports TV is distributed to an additional 23 million households, making it the largest eSports TV channel in the world, reaching 37 million homes. With the rapid growth of competitive gaming and eSports as a spectator event over the past few years, the appetite and potential for an eSports TV channel has never been greater.
Sky group director of business development and strategic partnerships Emma Lloyd said: "We're really excited to have followed up our commercial partnership with Ginx with this investment, which will help us deepen our understanding of eSports and its audience.
"At Sky we are committed to bringing new programmes and channels such as GINX eSports TV to support and extend our leadership position in content."
At 3:53pm: (LON:SKY) Sky Plc share price was -4.25p at 854.75p