RedBird IMI, the media investment firm headed by ex-CNN chief Jeff Zucker, has made an investment in Media Res, the studio behind Apple TV+’s hit series “The Morning Show.”
Financial details of the deal weren’t disclosed. It’s the first investment by RedBird IMI into scripted entertainment. Media Res founder and CEO Michael Ellenberg will retain a majority ownership and continue to run day-to-day operations of the company, while Zucker will take a seat on the board.
Media Res, based in L.A., said it will use the investment to “strike new strategic partnerships” and to continue its mission of “championing artists’ original ideas and sourcing projects from exceptional IP.”
Season 3 of “The Morning Show,” starring and executive produced by Reese Witherspoon and Jennifer Aniston, last month became the most-watched drama to date on Apple TV+. Media Res’ current slate includes the second season of the Apple TV+ series “Pachinko,” based on the international bestseller; absurdist comedy “I’m a Virgo,” written and directed by Boots Riley, on Amazon Prime Video; Apple TV+ climate change series “Extrapolations” from Scott Z. Burns, starring Meryl Streep, Edward Norton and Marion Cotillard; and “Scenes from a Marriage,” starring Jessica Chastain and Oscar Isaac, for HBO, based on the classic Ingmar Bergman series.
“We are thrilled and honored to be partnering with RedBird IMI and the incredible Jeff Zucker, who shares in our passion and vision,” said Ellenberg. Before founding Media Res, Ellenberg was head of drama for HBO with credits including “Big Little Lies,” “True Detective,” “The Leftovers” and “Westworld.”
Zucker, in a statement, said, “It’s been thrilling to watch Michael’s ability to bring together the most creative minds in the business and develop innovative, commercially successful series for the new viewing landscape. Media Res was a natural partnership for us as we continue to expand our presence across all forms of scripted, unscripted and children’s entertainment as well as news and information.”
J.P. Morgan acted as sole placement agent to Media Res on the transaction. Media Res is repped by Latham & Watkins LLP and Ziffren Brittenham.
RedBird IMI is a joint venture between RedBird Capital Partners, a New York based private-equity firm founded and led by Gerry Cardinale, and International Media Investments, a global media company based in Abu Dhabi. RedBird IMI is investing in companies across news, media, entertainment, sports and live event.
In its first year, RedBird IMI invested in EverWonder Studios, a nonfiction production company; Hidden Pigeon Co., a kids’ entertainment company founded by author-illustrator Mo Willems; and Front Office Sports, a multiplatform media brand covering the influence of sports on business and culture. RedBird IMI also made a bid to acquire the U.K.’s Telegraph Media Group, publisher of the Daily Telegraph.
