Feb 21 (Reuters) - Live-video shopping app NTWRK said on Wednesday it would buy publisher Complex, in a bid to leverage the popularity of the publication to reach younger audience.

The new company will be led by Aaron Levant, who co-founded NTWRK in 2018 and has served as its CEO since its inception.

"We will create the definitive global content, commerce, and experiential platform of convergence culture," Levant said in a statement.

NTWRK did not disclose financial terms of the transaction.

Investors of the new venture include Main Street Advisors, music industry veteran Jimmy Iovine, music label Universal Music Group, and Goldman Sachs.

NTWRK said Interscope Geffen A&M (IGA) and Capitol Music Group will be the first Universal Music Group labels to collaborate with the new company to deliver exclusive collaborations.

The new venture would continue to serve all major and independent artists and labels, NTWRK said. (Reporting by Jaspreet Singh in Bengaluru; Editing by Maju Samuel)