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 to “to fortify its marketplace position in the U.S. while scaling in existing and new international territories, bolster its unique value proposition with additive capabilities across representation & production, supercharge organic growth along with new ventures & acquisitions, and fuel more ways to expand its business in lucrative, highly innovative sectors through key investments.”
“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,” said Micelli, Range’s CEO, 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.”
“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,” added Range managing partner Jack Whigham. “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.”
This story was written by Alex Weprin, originally published on The Hollywood Reporter