Range Media Partners has secured a minority investment from Liberty Global, New York-based family office Wildcat Capital Management and family
entertainment company Playground Productionsl. The investment will be directed towards strategic acquisitions and other growth initiatives.
Financial details about the investment weren’t disclosed. Prior to the investment, Range reported a $300 million valuation.
The firm, which launched in 2020, represents talent across TV, film, music, sports and brands. In the past year, Range ramped up its film production capabilities through a merger with Automatik, grew its Range Sports business through the acquisition of growth-stage companies and continued to expand its Range Music business through the launch of a music publishing division and opening a Nashville office. The company grew in sports by acquiring companies in golf, media rights and athlete marketing.
“We founded Range with the express intention to build a multi-vertical, full-service offering, one that extends beyond the traditional business of film & TV representation in order to catapult client careers and ambitions through the broader entertainment & media landscape as well as through technology and
diversified ventures,” Range Media Partners CEO Peter Micelli said in a statement. “We saw the dynamic changes happening, our clients were feeling them through the ripple effect, and we wanted to be more aggressive in how we could advantageously leverage those changes accordingly.”
The investor group, which is comprised of Liberty Global affiliates and an investment fund advised by Wildcat Capital Management, as well as Rick Hess, was led by Forest Road Asset Management LLC and accompanied by an investment from Playground Productions.
“Liberty Global, one of the most widely respected industry leaders worldwide, along with Wildcat Capital Management and Playground Productions are ideal strategic partners for Range’s next stage of growth,” Range Media’s managing partner Jack Whigham added. “We have been very deliberate during this process, wanting to find top-tier, blue-chip partners who have a unique perspective on our industry and are as committed as we are to an innovative long-term strategy to unlock global value for our clients. We are honored to move into this transformative phase with Liberty Global, along with the other first-rate financial sponsors, at our side to continue to meaningfully diversify our business through investment & acquisition.”
In connection with the investment, Hess has been appointed to serve on Range’s governing body as the group’s representative. ACF Investment Bank advised the investor group and Greenberg Traurig served as its legal counsel. Cooley served as legal counsel to Liberty, while Range was represented by Jones Day.
The group joins Range’s other existing strategic investors, Point72 Ventures and A+E Networks.
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