Skydance Media has secured a $275 million strategic investment by RedBird Capital Partners and CJ Entertainment and Merchandising (CJ ENM), the studio behind the Academy Award-winning Parasite.
Skydance’s current investor base, including the Ellison family and Tencent Holdings, also participated in the investment round. Partnering with RedBird and CJ ENM (and its production subsidiary Studio Dragon) will help to further expand the company’s global reach across its film, TV, animation and interactive platforms.
“We are honored to partner with RedBird Capital and CJ ENM. These are sophisticated strategic partners who believe in our creative vision and our ambitious strategy to build the studio of the future,” said David Ellison, Skydance Media’s founder and CEO, and Jesse Sisgold, Skydance Media’s president and COO. “Their partnership will help propel us to another decade of exponential growth as we look to shape the future of where entertainment is heading.”
“As the media entertainment landscape continues to evolve against the backdrop of a transformational distribution ecosystem, I can’t think of a more compelling pure-play content company than Skydance Media,” said Gerry Cardinale, founder and managing partner at RedBird Capital Partners. “Under David’s leadership and strategic vision, Skydance has established a diversified content creation platform that prioritizes world-class production and original content generation with financial discipline and a focus on building equity value for the long term. We look forward to working with CJ ENM, Tencent and the Ellison family to help Skydance reach its tremendous potential.”
“We are thrilled to be partnering with Skydance Media along with RedBird Capital, Tencent and the Ellison family,” said Min Heoi Heo, CEO of CJ ENM. “CJ is singularly focused on strengthening borderless content to attract global audiences. With partners who share our vision, together we will create exceptional content to define the next chapter of the entertainment industry.”