King is one of showbiz’s most prominent African-American talent reps and the only black partner in the 100-year plus history of WME. The new banner, dubbed Macro, aims to produce film, TV and digital content targeting African-American, Latino and multicultural audiences.
The company is in the midst of assembling an “eight-figure” round of financing from various investors. The company has not named specific investors but said details will be coming soon. Attorney Josh Grode of Irell & Manella is structuring the financing for the company.
The company said it is developing projects with filmmakers Craig Brewer and Ryan Coogler. King has long repped multihyphenate Tyler Perry, who has been a trailblazer in terms of working in production on his own terms. From his years at WME, King has plenty of other connections to draw on in building the company, which also aims to work beyond the production arena to develop “brands and new platforms at the intersection of content, lifestyle and technology.”
King said he had created an advisory board for the company that includes Netflix’s Ted Sarandos and Citibank head of corporate and investment banking Raymond McGuire. Macro is in the process of hiring several executives, the company said.
“There were two major catalysts that propelled me to move to L.A. and enter the industry over 15 years ago: my vision to build a media company one day and the knowledge that what I saw on screen did not fully reflect the spectrum of who we are,” King said in announcing the company. “It’s clear to me now, as it was then, that there’s a growing appetite for content that serves the more diverse world we live in.”
King joined the mailroom of what was then the William Morris Agency in 1997. He was promoted to agent two years later.