Music, film and television management and production firm Range Media Partners has secured a minority investment from a group of investors including Liberty Global and the family office of TPG chairman David Bonderman.
This new capital, as reported by Variety on Monday (April 22), will fuel Range’s growth initiatives and strategic acquisitions.
The investor group comprises affiliates of Liberty Global; an investment fund advised by Bonderman’s Wildcat Capital Management; CAA; Evolution Media Capital alum Rick Hess; and Forest Road Asset Management LLC. Notably, the group also includes Playground Productions, a STEM-focused family entertainment firm led by former educator Lindsay Barnett.
Liberty says said it has a USD $3 billion portfolio, spanning more than 75 companies across technology, content and infrastructure.
Range Media, founded in late summer 2020, already counts Steven A. Cohen’s Point72 Ventures and A+E Networks among its investors. Point72 notably co-led New York-headquartered music AI technology startup Hook’s $3 million seed round in October.
“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.”
Peter Micelli, Range Media Partners
Since its launch, Range has actively expanded its operations. It merged with film production company Automatik, bolstering its film division. It also focused on growth in Range Sports, acquiring expertise and companies in media rights, athlete marketing, and golf. Additionally, Range Music expanded with a new Music Publishing arm and a Nashville office.
In June 2021, Range Media signed a worldwide distribution deal with Capitol Music Group (CMG) and Virgin Music & Artist Label Services.
“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,” Peter Micelli, CEO of Range Media Partners, was quoted by Variety as saying.
“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.”
Jack Whigham, Range Media Partners
“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.”
Range Media Partners Managing Partner Jack Whigham said: “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.”
As part of the agreement, Hess will join Range’s governing body as Forest Road’s representative, Variety reports. ACF Investment Bank advised the investor group, with Greenberg Traurig providing legal counsel. Cooley served as legal counsel to Liberty, while Jones Day represented Range Media Partners.
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