Jesse Jacobs: Last News

Kurt Badenhausen Longtime sports team owners Josh Harris and David Blitzer have been actively investing in youth sports properties over the last two years. Now, the private equity titans are rolling up those assets into a new parent company, Unrivaled Sports.

The Chernin Group and Night, Inc. are launching Night Capital, a new investment company with commitments of $100 million, to acquire established consumer-facing companies in partnership with leading talent.

Cynthia Littleton Business EditorPeter Chernin is going all-in on building an independent content studio with global reach backed with up to $800 million in financing from private equity giants Providence Equity Partners and Apollo.The media investor and former Fox chief has formed The North Road Company after quietly acquiring the U.S. production assets of Red Arrow Studios in a deal with Germany’s ProSiebenSat.1 said to be worth about $180 million.The Red Arrow units will combine with the existing Chernin Entertainment banner as the backbone of the new venture that will focus on producing movies, scripted and unscripted TV programs and documentaries, among other content.

The Chernin Group is leading a $263 million strategic investment in pop culture lifestyle brand Funko, with Bob Iger and sports agent Rich Paul among the stakeholders.

Todd Spangler NY Digital EditorThe Chernin Group, Peter Chernin’s investment firm, announced that it is buying 25% of Funko, the pop-culture collectibles company, leading a group of investors that includes former Disney chief Bob Iger.The consortium led by TCG will make a $263 million strategic investment in Funko, acquiring 80% of ACON Investments’ shares in Funko Class A common stock for $21/share. Along with Iger, investors in the consortium include eBay and Rich Paul, CEO and founder of Klutch Sports Group and UTA’s head of sports.Shares of Funko shot up more than 40% in after-hours trading on the investment news as well as Funko’s first-quarter 2022 earnings report topping Wall Street expectations.“We believe Funko is significantly undervalued in the public markets and at this highly attractive entry price provides a runway of opportunity and growth potential,” Peter Chernin said in a statement.

Connor Schell, ESPN's former executive vp of content, is launching a new unscripted content studio backed by Peter Chernin's Chernin Entertainment. Schell will serve as CEO of the still-unnamed studio which will "produce high quality, culturally relevant, non-fiction storytelling both inside and outside of the sports world," per the company.