By Sahil Patel
A group of investors that includes financial services firm Guggenheim Partners has made a minority investment in Media Rights Capital, the production company behind Netflix’s tentpole original series “House of Cards,” as well as films like “Ted” and “Elysium.”
The news was reported by TheWrap, which pegged the size of the investment at $240 million, which could value MRC as high as $1 billion. It follows an earlier report from Bloomberg in February that said Guggenheim had made a minority investment in MRC, but did not disclose the size of the deal.
In a statement, Guggenheim declined to reveal financial terms, but confirmed that a “private investor group, formed in conjunction with Guggenheim, that includes Guggenheim as a minority investor, made a minority, non-controlling investment in MRC.”
Some of MRC’s founding investors are said to have sold their stakes as part of the deal, though it’s not clear which investors have or haven’t. The production company was founded in 2006 with investments from Goldman Sachs, AT&T, and advertising company WPP.
Per the reports, MRC co-CEOs Modi Wiczyk and Asif Satchu will continue to oversee the company. Next up for them: Seth MacFarlane’s western comedy “A Million Ways to Die in the West,” and soon, production on the third season of “House of Cards.”
As a major financial services firm, Guggenheim owns more than $200 billion in assets. Its Guggenheim Digital Media division, led by CEO Ross Levinsohn, was one of the companies that tried to buy Hulu last year.