EXCLUSIVE: The non-fiction space is heating up in terms of M&A as Boardwalk Pictures, the company behind long-running Netflix series such as Chef’s Table and Last Chance U, has struck a deal to sell a minority stake.
The company, founded by Andrew Fried, has sold a stake to investment firm Shamrock Capital. No one is commenting, but we understand that the deal is in the nine-figure range.
The move is the latest big-ticket deal in the booming non-fiction space and follows deals such as Sony Pictures Television’s $350M acquisition of Industrial Media, Peter Chernin’s North Road Company’s $200M purchase of Red Arrow Studios, Fremantle’s acquisitive streak including companies such as 72 Films, and ITV Studio’s $126M deal for Plimsoll Productions.
Fried, who directed We Are Freestyle Love Supreme, founded the company in 2010 and also makes series such as FX’s Welcome To Wrexham, HBO Max’s The Big Brunch, Showtime’s We Need To Talk About Cosby, Netflix’s Cheer and Pepsi, Where’s My Jet?
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