Range Media has raised fresh cash in what it is calling a “growth capital” round meant to expand its business both domestically and abroad.
The management and production firm, founded in 2020 by former CAA agent Peter Micelli and other former agents, says that it has completed an investment round with media mogul John Malone’s Liberty Global, Tpg founder David Bonderman’s Wildcat Capital, and the family entertainment company Playground Productions.
Terms of the deal were not disclosed, though a source said that it was a “substantial” minority investment. Liberty, Wildcat and Playground join Steve Cohen’s Point72 Ventures and A+E Networks as investors in Range.
A+E Networks invested in Range in 2022, in connection with a production deal.
Since its founding Range has expanded into other areas, including music, sports, and gaming. The company also merged with the production company Automatik.
The company says it will use the cash...
The management and production firm, founded in 2020 by former CAA agent Peter Micelli and other former agents, says that it has completed an investment round with media mogul John Malone’s Liberty Global, Tpg founder David Bonderman’s Wildcat Capital, and the family entertainment company Playground Productions.
Terms of the deal were not disclosed, though a source said that it was a “substantial” minority investment. Liberty, Wildcat and Playground join Steve Cohen’s Point72 Ventures and A+E Networks as investors in Range.
A+E Networks invested in Range in 2022, in connection with a production deal.
Since its founding Range has expanded into other areas, including music, sports, and gaming. The company also merged with the production company Automatik.
The company says it will use the cash...
- 4/23/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
Range Media Partners has secured a minority investment from a group including Liberty Global and Tpg founding partner David Bonderman’s family office Wildcat Capital Management.
Family entertainment company Playground Productions is also a participant in the new round, terms of which were not disclosed. The new investors join an existing roster of backers, among them A+E Networks and hedge fund billionaire Steve Cohen’s Point72 Ventures.
In announcing the deal, Range said it would help “spur growth initiatives and strategic acquisitions.”
Since Deadline broke news of the formation of Range in 2020 with a bunch of best and brightest who left CAA, WME and other posts, the management/production concern has slowly expanded its operations into entertainment sports, music, digital, advertising and other sectors.
Over the past year, Range solidified its film capabilities by merging with La La Land production company Automatik. The firm also set out a sports strategy...
Family entertainment company Playground Productions is also a participant in the new round, terms of which were not disclosed. The new investors join an existing roster of backers, among them A+E Networks and hedge fund billionaire Steve Cohen’s Point72 Ventures.
In announcing the deal, Range said it would help “spur growth initiatives and strategic acquisitions.”
Since Deadline broke news of the formation of Range in 2020 with a bunch of best and brightest who left CAA, WME and other posts, the management/production concern has slowly expanded its operations into entertainment sports, music, digital, advertising and other sectors.
Over the past year, Range solidified its film capabilities by merging with La La Land production company Automatik. The firm also set out a sports strategy...
- 4/23/2024
- by Dade Hayes
- Deadline Film + TV
Amazon acquired naming rights to what had been called KeyArena in Seattle. But the ecommerce giant isn’t going to splash its own name or logo on it.
Instead, the company will call the arena “Climate Pledge Arena,” the new home for the city’s future NHL franchise and the Wnba’s Seattle Storm. Currently undergoing a renovation, the 18,100-seat venue is slated to reopen in June 2021.
Jeff Bezos, Amazon’s mega-billionaire founder and CEO, said the new name is intended to be “a regular reminder of the importance of fighting climate change.”
News of the arena’s new name came two days after Amazon announced its creation of the $2 billion Climate Pledge Fund, a venture-investment vehicle to fund companies in industries including transportation and logistics, energy generation, storage and utilization, manufacturing and materials, “circular economy,” and food and agriculture.
In February, Bezos announced the $10 billion Bezos Earth Fund to...
Instead, the company will call the arena “Climate Pledge Arena,” the new home for the city’s future NHL franchise and the Wnba’s Seattle Storm. Currently undergoing a renovation, the 18,100-seat venue is slated to reopen in June 2021.
Jeff Bezos, Amazon’s mega-billionaire founder and CEO, said the new name is intended to be “a regular reminder of the importance of fighting climate change.”
News of the arena’s new name came two days after Amazon announced its creation of the $2 billion Climate Pledge Fund, a venture-investment vehicle to fund companies in industries including transportation and logistics, energy generation, storage and utilization, manufacturing and materials, “circular economy,” and food and agriculture.
In February, Bezos announced the $10 billion Bezos Earth Fund to...
- 6/25/2020
- by Todd Spangler
- Variety Film + TV
The independent studio STX Entertainment is looking to merge, raise capital or find a buyer following a string of box office disappointments and the scuttling of a planned Ipo last fall, TheWrap has learned.
Board members including Dominic Ng, CEO of East-West Bank, have met with deep-pocketed investors and Hollywood studios in recent weeks looking for a partner, two knowledgeable individuals told TheWrap.
But with high overhead that one knowledgeable insider set at $55 million a year, a minimal film library led by the 2016 hit comedy “Bad Moms” and a business strategy that so far has failed to show significant results, the five-year-old upstart has found no one willing to commit additional funding, those individuals said.
Ng denied that he was taking meetings to do a deal for Stx: “I have nothing to do with personally getting involved in putting a deal together,” he told TheWrap. “That is news to me today.
Board members including Dominic Ng, CEO of East-West Bank, have met with deep-pocketed investors and Hollywood studios in recent weeks looking for a partner, two knowledgeable individuals told TheWrap.
But with high overhead that one knowledgeable insider set at $55 million a year, a minimal film library led by the 2016 hit comedy “Bad Moms” and a business strategy that so far has failed to show significant results, the five-year-old upstart has found no one willing to commit additional funding, those individuals said.
Ng denied that he was taking meetings to do a deal for Stx: “I have nothing to do with personally getting involved in putting a deal together,” he told TheWrap. “That is news to me today.
- 7/8/2019
- by Sharon Waxman and Trey Williams
- The Wrap
When it launched in 2014, Stx Entertainment was supposed to be a smarter and nimbler entertainment company, one that could open compelling movies and launch quality television shows while keeping a lid on costs.
Five years later, the upstart studio has little to show for its efforts, and following the box office failure of “UglyDolls,” an animated movie that the company hoped would launch a franchise, its financial and creative future looks perilous. As if to rub salt in the wounds, Stx’s release of “Poms,” a low-budget movie about a cheerleader troupe of senior citizens, has also met with lackluster box office results.
Under the leadership of CEO Robert Simonds and motion picture chair Adam Fogelson, Stx has repeated the same refrain for years — that the company mitigates its financial risk by spending less on marketing and by selling off foreign rights to the films it makes. But the “UglyDolls” returns are not pretty.
Five years later, the upstart studio has little to show for its efforts, and following the box office failure of “UglyDolls,” an animated movie that the company hoped would launch a franchise, its financial and creative future looks perilous. As if to rub salt in the wounds, Stx’s release of “Poms,” a low-budget movie about a cheerleader troupe of senior citizens, has also met with lackluster box office results.
Under the leadership of CEO Robert Simonds and motion picture chair Adam Fogelson, Stx has repeated the same refrain for years — that the company mitigates its financial risk by spending less on marketing and by selling off foreign rights to the films it makes. But the “UglyDolls” returns are not pretty.
- 5/14/2019
- by Matt Donnelly
- Variety Film + TV
More fallout today from the wild indictments involving college-entry fraud. Bill McGlashan, the founder and managing partner of Tpg Growth, has left the board of Stx Entertainment, which had placed him on administrative leave after the case was announced Tuesday.
Here is an internal memo from Stx founder and CEO Robert Simonds annoucing the move:
As you may know, our board member, Bill McGlashan, has been placed on administrative leave at Tpg and will be stepping down from our board. This has absolutely nothing to do with his involvement with Stx. Please know that Tpg remains fully committed to our success. David Bonderman (Co-Founder of Tpg) and Mike Stone continue to sit on our Board and Tpg will fill Bill’s board seat in the next few days.
Bob
The parent company of McGlashan’s Tpg Growth, Tpg, also is the majority owner of CAA and helped launch Stx Entertainment,...
Here is an internal memo from Stx founder and CEO Robert Simonds annoucing the move:
As you may know, our board member, Bill McGlashan, has been placed on administrative leave at Tpg and will be stepping down from our board. This has absolutely nothing to do with his involvement with Stx. Please know that Tpg remains fully committed to our success. David Bonderman (Co-Founder of Tpg) and Mike Stone continue to sit on our Board and Tpg will fill Bill’s board seat in the next few days.
Bob
The parent company of McGlashan’s Tpg Growth, Tpg, also is the majority owner of CAA and helped launch Stx Entertainment,...
- 3/14/2019
- by Erik Pedersen
- Deadline Film + TV
The National Hockey League has awarded an expansion franchise to Seattle for the 2021-22 season. The new team — the league’s 32nd — will play in the NHL’s Pacific Division of the Western Conference, moving the Arizona Coyotes to the Western Conference’s Central Division that season.
The new team will be principally owned by David Bonderman and will play its home games at Seattle Center Arena. The Seattle franchise will pay a $650 million expansion fee.
“Today is an exciting and historic day for our League as we expand to one of North America’s most innovative, beautiful and fastest-growing cities,” NHL commissioner Gary Bettman said. “We are delighted to add David Bonderman, Tod Leiweke and the entire NHL Seattle group to the National Hockey League family. And we are thrilled that Seattle, a city with a proud hockey history that includes being the home for the first American team...
The new team will be principally owned by David Bonderman and will play its home games at Seattle Center Arena. The Seattle franchise will pay a $650 million expansion fee.
“Today is an exciting and historic day for our League as we expand to one of North America’s most innovative, beautiful and fastest-growing cities,” NHL commissioner Gary Bettman said. “We are delighted to add David Bonderman, Tod Leiweke and the entire NHL Seattle group to the National Hockey League family. And we are thrilled that Seattle, a city with a proud hockey history that includes being the home for the first American team...
- 12/4/2018
- by Tony Maglio and Brian Welk
- The Wrap
Stx Entertainment, as has long been suggested would be the case, has filed for an Ipo on the Hong Kong stock exchange. If accepted, the proposal would make Bob Simonds’ burgeoning studio the first U.S.-based entertainment company to go public on the Hong Kong exchange.
The company was valued at $1.5B last year, however, it has been reported previously that the company could be valued as high as $3.5B after the Ipo. Since its inception, Stx has been modeling itself to become a major entertainment company along the lines of Viacom and this is yet another step in the path to achieve that goal.
Stx Entertainment CEO Simonds has been hinting that they might go public for some two and a half years now when China’s Tencent and Hong Kong telecom giant Pccw led an investment round in Stx with the specific aim of building a studio.
The company was valued at $1.5B last year, however, it has been reported previously that the company could be valued as high as $3.5B after the Ipo. Since its inception, Stx has been modeling itself to become a major entertainment company along the lines of Viacom and this is yet another step in the path to achieve that goal.
Stx Entertainment CEO Simonds has been hinting that they might go public for some two and a half years now when China’s Tencent and Hong Kong telecom giant Pccw led an investment round in Stx with the specific aim of building a studio.
- 4/26/2018
- by Nancy Tartaglione
- Deadline Film + TV
Uber’s Tuesday all-hands meeting to begin the process of changing its culture showed how far the company still has to go. Leaked audio of the proceedings captured board member and Tpg Capital Founding Partner David Bonderman making an ill-conceived joke about the addition of a new, female board member. At the meeting, the company announced CEO Travis Kalanick would be taking an indefinite leave of absence, and shared recommendations from law firm Covington & Burling, which had been retained to look into ways Uber could fix its corporate culture in the wake of several sexual harassment allegations. Bonderman then joined fellow board.
- 6/13/2017
- by Matt Pressberg
- The Wrap
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