×
You will be redirected back to your article in seconds

Jeff Robinov’s Studio 8 Seeking $200 Million of Fresh Capital

Jeff Robinov’s Studio 8 is seeking some $200 million of fresh capital. The cash is expected to be plowed in to projects as the company finally accelerates its production slate.

The fundraising effort is headed by boutique investment bank Raine Group, according to Bloomberg, which first reported the news.

Studio 8 is majority-owned by China’s Fosun International but remains under the management control of its founder, former Warner Bros. film division chief Robinov. He was recently joined by former Sony TV chairman Steve Mosko.

Sources close to Fosun confirmed the fundraising exercise to Variety and described it as “quite normal business practice.”

The source would not confirm whether Fosun itself would be putting up cash in the new fundraising round or whether it intended to allow its equity holdings to be diluted to a minority position. Fosun owns 80% of Studio 8’s A-class shares, which in turn amounts to 60% of the economic interest in the company.

“We are very confident in Jeff and his team,” the source added. “We are pretty happy to see all the projects they’ve developed. They have great potential.”

Started in 2014 with backing from Sony and Fosun, Studio 8 has released only one feature film of note, the Ang Lee-directed “Billy Lynn’s Long Halftime Walk.” It has two films scheduled for release in 2018, “White Boy Rick” and “Alpha.”

Fosun was among the Chinese companies leading an overseas acquisition boom that stretched from 2012 to 2016, before the capital outflow was stanched by government intervention. Fosun acquired stakes in Cirque du Soleil, Club Mediterranee and English soccer club Wolverhampton Wanderers, as well as a large property portfolio and a collection of insurance companies. In recent months, Fosun has sold a property development in Sydney, Australia, and bought a stakes in China’s Tsingtao brewery and Austria’s lingerie maker Wolford.

More Biz

  • Craig Hunegs WB

    Craig Hunegs to Exit Warner Bros. TV Group and Digital Networks (EXCLUSIVE)

    After nearly 25 years in the Warner Bros. family, Craig Hunegs is exiting his post as head of business for Warner Bros. TV Group and president of the studio’s digital networks wing. Hunegs said he has been discussing his exit with Warner Bros. chairman-CEO Kevin Tsujihara for the past several months. At a time of [...]

  • 'Walking Dead' Profits Dispute Heading to

    'Walking Dead' Profits Dispute Heading to Trial

    The long-running legal battle between Frank Darabont and AMC over profits from “The Walking Dead” will run a bit longer, as a judge ruled Monday that the case must go to trial. Darabont and CAA sued the network back in 2013, arguing he was deprived of $280 million in profit participation because AMC did not [...]

  • Steven Wilson Ron Hofmann Hayley Antonian

    PR Vets Steven Wilson, Ron Hofmann, Hayley Antonian Leave BWR to Form New Agency

    BWR’s Steven Wilson, Ron Hofmann, and Hayley Antonian have announced the formation of a new communications company, Scenario, headquartered in Los Angeles and New York. Together, Wilson, Hofmann, and Antonian will serve as co-presidents while providing integrated communication strategies for clients across the entertainment, lifestyle, and technology industries. Entrepreneur and business strategist Brian Lee will work alongside [...]

  • NEW YORK, NY - SEPTEMBER 06:

    Endeavor Promotes Mark Shapiro to President

    After four years overseeing content operations at IMG, Mark Shapiro has been promoted to president of Endeavor. Shapiro’s elevation to the newly created post comes as Endeavor has expanded dramatically during the past few years, starting with its acquisition of IMG in 2014. Endeavor is now the parent company of WME, IMG, UFC and other [...]

  • Rhapsody, Sony Music to Launch Spotify

    Rhapsody, Sony Music to Launch Spotify Competitor in Japan

    Rhapsody and Sony Music Entertainment today announced a partnership to launch what they describe as the first on-demand, high-resolution streaming music service in Japan. Rhapsody International is providing its “Powered by Napster” platform including a set of systems, tools and APIs to allow SMEJ to quickly launch and bring its on-demand service to market. The service, [...]

  • China's Alibaba to Take Majority Control

    Alibaba to Take Majority Control of Alibaba Pictures

    Chinese e-commerce giant Alibaba is to take majority control of its films unit Alibaba Pictures. The $160 million (HK$1.25 billion) deal was announced Monday. The companies said that Alibaba would increase its stake in Hong Kong- and Singapore-listed Alibaba Pictures through a share subscription. It will lift the parent company’s stake from 49% to 51%, [...]

  • Guy Moot

    Is Sony/ATV’s Guy Moot Headed for Top Job at Warner/Chappell?

    Ever since Jon Platt announced in September that he will be stepping down from his post at the helm of Warner/Chappell Publishing to take the top job at Sony/ATV when Martin Bandier’s contract is up at the end of March, speculation has been rife about who will take over for him. One name has been [...]

More From Our Brands

Access exclusive content