Puck in Talks for $250 Million Investment From RedBird Capital Partners
The potential deal would make the firm Puck’s leading investor while its journalists retain their stakes The post Puck in Talks for $250 Million Investment From RedBird Capital Partners appeared first on TheWrap .
Puck is in advanced negotiations for a $250 million investment from RedBird Capital Partners, which would make the firm its leading investor, according to Reuters. The potential all-cash deal would value Puck at around $250 million and enable existing institutional investors to sell their stakes to RedBird Capital Partners, the news service reported Wednesday, citing sources familiar with the discussions.
Puck's spokesperson confirmed the talks in a statement to TheWrap, stating that the deal would not include shares held by the company's founders or journalists. Puck, founded in 2021 by journalist Jon Kelly and a team of veteran reporters, publishes subscription newsletters covering various topics, with its journalists earning equity and a share of subscription revenue.
The company currently has approximately 50,000 paying subscribers. RedBird Capital Partners has previously invested in Puck, along with other media and entertainment ventures like Ben Affleck and Matt Damon's Artists Equity.
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