Jeff Zucker's RedBird IMI invests in "Morning Show" studio
Jeff Zucker's RedBird IMI has made a minority investment in Hollywood studio Media Res, the company announced Thursday.
Why it matters: Zucker is betting that Media Res has a place at the table during the coming Hollywood contraction.
- "Even if it's not at the level it's been historically, there's still going to be a desire for prestigious scripted programming," Zucker told the New York Times.
Details: The investment will be used to help the studio expand its domestic and international scripted business as well as expand its film and non-fiction growth.
- Financial terms were not disclosed.
- Zucker will take a seat on Media Res' board, while CEO Michael Ellenberg will continue to run the studio and its day-to-day operations.
- Media Res is best known as the studio behind Apple TV+'s "The Morning Show" and "Pachinko."
- "We started Media Res in the belief that an independent studio model could thrive in today's consolidated market," Ellenberg said in a statement. "This investment will allow us to build on what we started."
The big picture: It's a return to the scripted entertainment world for Zucker, who ran NBC's entertainment division in the early 2000s before it was acquired by Comcast.
- Media Res is the fourth investment for RedBird IMI. Last year, the joint venture invested in non-fiction studio EverWonder Studios, children's entertainment firm Hidden Pigeon and sports outlet Front Office Sports.
- Zucker is currently attempting to take over the famed London newspaper The Daily Telegraph. That deal is under review by British regulators over concerns of foreign ownership by Middle Eastern backers.