Jeff Zucker‘s RedBird IMI has found its next investment.
The investment fund is taking a stake in Media Res, the studio behind the Apple TV+ shows The Morning Show and Pachinko, among other projects.
The studio, founded by former HBO executive Michael Ellenberg, will use the investment to fuel its scripted business in the U.S. and abroad, as well as to expand its unscripted and film divisions.
Zucker will join the board of Media Res in conjunction with the deal, terms were not disclosed.
Media Res launched in 2017 as a premium independent studio, pursing the types of shows that Ellenberg was interested in while running drama at HBO.
RedBird IMI launched in late 2022 with a $1 billion war chest backed by RedBird Capital and Abu Dhabi’s IMI, with a mandate to pursue investments in the news, entertainment and sports sectors. Led by Zucker, the former president of CNN and CEO of NBC Universal, has since cut deals to launch the nonfiction studio EverWonder, as well as the sports industry news outlet Front Office Sports. The company has also sought to acquire the powerful U.K. news outlet The Telegraph, though the involvement of Abu Dhabi has led officials there to closely review the deal.
“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” said Zucker in a statement. “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.”
“We started Media Res in the belief that an independent studio model could thrive in today’s consolidated market — creating a home for groundbreaking artists and material with the aim of delighting, inspiring and enthralling audiences worldwide” added Ellenberg. “This investment will allow us to build on what we started, fueling Media Res’ growth as a marquee supplier of premium storytelling to platforms across the globe. We are thrilled and honored to be partnering with RedBird IMI and the incredible Jeff Zucker, who shares in our passion and vision.”