NewTV raises $1 bln
WndrCo said Aug. 7 that NewTV had raised $1 billion in an initial funding round. Investors include 21st Century Fox, Disney, Entertainment One, ITV, Lionsgate, Metro Goldwyn Mayer, NBCUniversal, Sony Pictures Entertainment, Viacom, and Warner Media. The technology company investors include Alibaba. The strategic partner investors include The Goldman Sachs Group, Inc., JPMorgan Chase & Co., Liberty Global, and Madrone Capital, who led the round. WndrCo, of Los Angeles and San Francisco, is a holding company that invests in, acquires, develops and operates consumer technology businesses for the long term. NewTV is the working title of a mobile media platform incubated at WndrCo and founded by Jeffrey Katzenberg. Ari Lanin, Ben Ross and Edward Sopher of Gibson, Dunn & Crutcher LLP represented NewTV in the acquisition by WndrCo.
