Range Media Partners Secures Growth Capital from Verance Capital to Fuel Expansion in Sports
14 Agosto 2024 - 1:18PM
Business Wire
Verance joins the recently announced funding
round with Liberty Global, Wildcat Capital Management and
Playground Productions
Range Media Partners, the diversified global talent
representation & production firm, which includes its rapidly
growing sports division, Range Sports, announced today that it has
secured a minority investment from Verance Capital, a prominent New
York-based growth investment firm focused on sports, media, and
entertainment. Verance joins Range’s recently announced new
strategic investor group inclusive of Liberty Global, New
York-based family office Wildcat Capital Management and family
entertainment company Playground Productions to drive growth
opportunities, strategic acquisitions, new ventures, and expansion
in existing and new verticals and markets.
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Range Media Partners formed Range Sports in the summer of 2022,
and since then, the division has quickly established itself as one
of the most dynamic and diversified businesses in the industry
spanning athlete representation, property representation, brand
consulting, IP creation, and content production. In the past year,
Range Sports has acquired growth-stage companies within the media
rights, athlete marketing, football, golf, and Olympic verticals,
solidified its premier reputation as a top representation firm for
female athletes, expanded its property rights division with key
hires, and continues to expand its content creation ambitions as
underscored through its work with the CW Network and the recently
announced partnership with the New York Mets.
“We have been very methodical in building Range Sports, focusing
on representation in key verticals and offering best-in-class
capabilities in high-value, high-impact arenas,” noted Will Funk
& Greg Luckman, Co-Presidents of Range Sports. They further
explained, “Along with Range Media Partners, we’ve been equally
deliberate with identifying an ideal strategic partner to help us
accelerate our growth through investments and acquisitions. We are
honored to partner with Verance on this new progressive chapter for
Range Sports.”
Formed in 2020 with the backing of Ted Segal, majority owner of
the Houston Dynamo and Dash, Verance partners with leading
entrepreneurs and management teams, providing early and growth
stage capital across sports, media and live entertainment.
Verance’s robust portfolio includes companies and innovators
shaping the future of these industries and highlights the fund’s
dedication to new technology, media distribution & content
production, and commerce-driven experiences. Through this new
strategic partnership and growth funding, Range will be able to
further bolster its aspirations across all categories of its
business with a dedicated focus on building and/or acquiring
high-growth potential, high value assets in sports.
Lyle Ayes, Founder & CEO of Verance, stated, “We’re thrilled
to partner with the team at Range to help accelerate their
expansion across the sports and entertainment landscape. Range has
quickly cemented itself as a leader in these verticals, and our
complementary portfolio and sector expertise made this a natural
partnership. We look forward to a prosperous relationship as Range
continues to innovate and scale for the long-term.”
Verance joins the investor group comprised of affiliates of
Liberty Global and an investment fund advised by Wildcat Capital
Management, as well as Rick Hess, which is led by Forest Road Asset
Management LLC and accompanied by an investment from Playground
Productions. Collectively this new investor group joins Range’s
existing strategic investors Point72 Ventures and A+E Networks.
About Range
Range Media Partners guides the most creatively ambitious minds
in building cultural capital, amplifying their truly remarkable
& diverse voices and unlocking full global value in all
businesses. Through talent representation, production,
storytelling, live experiences, data, Web3/AI strategies, and
venture incubation, we drive strategic growth and innovation for
our clients spanning film, television, music, sports, literary,
digital, gaming, activism, business, and brands. Our mission is to
maximize value, diversify & scale opportunities, and build the
future of entertainment and culture. From supporting athlete
endeavors on and off-field, to developing premium content, to
monetizing rights holder assets, Range Sports’s goal is to build a
thriving ecosystem for talent, properties, and brands in sports. In
collaboration with Range’s television and film studio, Range Sports
develops scripted and unscripted projects while also advising
clients on commercial rights, media/content distribution, brand
partnerships, and business development/incubation.
About Verance Capital
Verance Capital is a growth investment firm that partners with
leading entrepreneurs and management teams in the sports, media,
and live entertainment industries. With a flexible and long-term
approach to investing, Verance leverages its industry expertise and
an expansive global network to drive success for its partners. For
more information, visit www.verancecap.com.
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Sean Brech, DKC, Sean_brech@dkcnews.com