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Cartoon Network Studios, Trevor Pryce Set Animation Development Deal With Underrepresented Creators (EXCLUSIVE)
Jennifer Maas TV Business WriterCartoon Network Studios and NFL alumnus Trevor Pryce’s animation studio have teamed up on a content development deal designed to discover emerging creators and artists from underrepresented communities, Variety has learned exclusively.Pryce’s Mid-Atlantic-region-focused Outlook Company will host the initiative out of its recently formed animated projects incubator Neru Projects. The program will launch with six local participants who will have creative executives at Cartoon Network Studios and Neru Projects to shepherd their ideas from concept to pitch through the development of a series bible.Per Cartoon Network Studios, “At least one project will be selected to begin formal development at Cartoon Network Studios and Outlook Company but, through the program, all participants will learn how to collaborate with creative partners to develop and package their original animated series ideas.” The inaugural group for the development program includes these six individuals, who “represent diversity in race, gender, and age and will use their unique perspectives to shine a light on their homes, communities, and personal experiences through animation”:“Elevating original and diverse creative voices is one of our top priorities at Cartoon Network Studios,” Sam Register, president of Cartoon Network Studios and Warner Bros.
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Entertainment Investment Firm Coral Tree Partners Exceeds Inaugural Funding Target With $470 Million
Jennifer Maas TV Business WriterEntertainment-focused private investment firm Coral Tree Partners has closed its inaugural round of funding with committed capital of approximately $470 million, well above the initial target of $350 million.Per Coral Tree, inaugural fund was “significantly oversubscribed above its original hard cap” and “received strong support from a range of high‐quality institutional investors, including endowments, foundations, insurance companies, pension plans, institutional family offices and funds‐of‐funds.”Founded by former Shamrock Capital Advisors partners Will Wynperle and Alan Resnikoff, Coral Tree Partners is focused on investments in the media, entertainment, marketing services, and communications industries, lower middle market buyouts, and late state growth equity investments. Currently, the Los Angeles-based company has two investments to its name: Loaded, a Santa Monica, Calif.‐based global talent management and marketing firm that works in the gaming influencer market, and Subject Matter, a Washington, D.C.‐based strategic communications, creative content, advertising and government relations firm.Along with Wynperle and Resnikoff, the Coral Tree Partners team includes Mike DiLorenzo, Matt Greenzang and Jake Simons, who have worked with the founders previously, as well as a group of executive advisors comprised of several CEOs, including the former CEOs of Giant Creative, Learfield Sports, MarketCast and Questex.“Our investment experience in our sectors combined with our lower middle market focus differentiates us in the market,” Wynperle said.
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