GameSquare, parent company of FaZe Clan, fully spun off FaZe Media

GameSquarethe parent company of the FaZe Clan e-sports organization, has divested from the its remaining 25.5% stake in FaZe Mediaa subsidiary headed by FaZe Clan founder and current FaZe Media ceo, Richard “FaZe Banks” Bengston.

The strategic decision comes as the company seeks to optimize its operations, return control to FaZe’s founders and ultimately seek profitability. FaZe Clan will, however, continue to be owned by GameSquare. GameSquare’s financial results are expected to be released on April 16, 2025. Effective April 1, FaZe Media will no longer be consolidated in the publicly traded company’s financial statements.

Founded in May 2024, FaZe Media was created as a creator-driven Internet media and intellectual property company after securing an $11M investment from Matt Kalish, chairman and co-founder of DraftKings North America, for a 49% stake in the company. Last year, Gigamoon Media completed a $10M transaction in a convertible note, and the company’s latest valuation was $39.2M. Interestingly, GigaMoon Media is also controlled by Kalish.

GameSquare has also disclosed a new $2M credit facility from the Jones family, led by Dallas Cowboys owner and chairman Jerry Jones. The additional liquidity will be used to support the launch of a new division specializing in the events business, focused on immersive real-life experiences, leveraging top-tier talent and brands.

In addition, it plans to pursue a collegiate esports initiative to encourage participation on college campuses, including the creation of competitive tournaments and a proprietary software platform to support team operations and fan interaction.

The sale of FaZe Media is beneficial to GameSquare, FaZe Media and its founders. As we stated when we acquired FaZe Clan, for FaZe to succeed it needed to return to its roots with its founders at the helm to lead the brand and restore its authenticity.

Justin Kenna, CEO of GameSquare