Exclusive-Puck in advanced talks for investment by RedBird Capital Partners at $250 million valuation
Puck, a newsletter startup founded in 2021, is reportedly in advanced discussions with RedBird Capital Partners for an investment that would value the company at approximately $250 million. RedBird, a prominent investor in media and entertainment, would become the leading investor in Puck following the strategic recapitalization deal.
The investment will result in RedBird gaining a significant stake in the platform while maintaining Puck's editorial independence. Puck, known for its journalist-centric model and commitment to premium intellectual property, currently boasts around 50,000 paying subscribers. The deal is not expected to involve shares owned by the founders or its reporters.
Puck's co-founder and CEO, Jon Kelly, aims to provide a new model for media by giving its writers a share of subscription revenue. Notable journalists such as Matthew Belloni have contributed to the platform's success. RedBird is also involved in various media investments, including David Ellison's bid for the acquisition of Warner Bros. Discovery.
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