FOX Entertainment Takes Equity Stake in B.J. Novak’s Chain

FOX Entertainment has acquired an equity stake in B.J. Novak’s Chain, with the investment including a first-look development deal between Studio Ramsay Global and Chain Media.

The new partnership brings Chain’s food pop-ups, fan fest and other slate of events into the FOX ecosystem. The investment also covers, as aforementioned, a first-look development deal through Chain Media; ad sales and sponsorships with leading brands; IP integrations through FOX’s portfolio of Gordon Ramsay series and its Bite entertainment platform; and potential vertical video series through FOX’s recently announced stake in Holywater.

“Food continues to define culture—it’s how we celebrate, how we remember, how we connect,” Novak said. “No one understands how to turn culinary storytelling into cultural obsession like FOX Entertainment and Studio Ramsay Global. We’re excited to work together to bring Chain experiences to more people.”

“As FOX continues to expand its dominance across the food space, investing in Chain furthers our digital storytelling and content creation strategy with this deep partnership in a winning business model, where viral events advance creative possibilities,” commented Rob Wade, CEO of FOX Entertainment. “Studio Ramsay Global’s far-reaching, growing culinary empire and unmatched digital footprint, together with Chain’s remarkable, proven impact, will strengthen, scale and deepen our connection to food fans everywhere.”

Previous Chain investor Connect Ventures is re-investing alongside FOX in the financing round. Other prior Chain investors include Marshall Sandman’s Animal Capital, Palm Tree Crew, Able Partners and Chrissy Teigen, who also serves as a strategic advisor.

Chain began as a West Hollywood pop-up in a parking lot with a Michelin-starred chef cooking homages to nostalgic chain restaurant classics. In December 2023, Chain debuted ChainFEST, which featured ten legacy food brands as headliners—including Pizza Hut, Jack in the Box and Dunkin’—and sold 5,000 tickets in 48 hours. In 2024, Chain partnered with Medium Rare for ChainFEST and expanded to New York, selling 10,000 tickets across both markets and expanding beyond food to include CashApp, Pepto Bismol and Volkswagen.