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Jeffrey Katzenberg-Led WndrCo’s NewTV Closes $1 Billion Funding; Disney, Fox, WB Among Investors (Report)

Jeffrey Katzenberg Hand Imprint Ceremony
Michael Lewis for Variety

Jeffrey Katzenberg has brought in a clutch of major Hollywood companies as investors in WndrCo’s NewTV, the mobile-video venture from the holding company the former DreamWorks Animation chief co-founded last year.

According to a CNN report, NewTV has raised an additional $200 million from Disney, 21st Century Fox, Warner Bros., Entertainment One and other media companies. That brings NewTV to $1 billion raised to date, with other backers including institutional investors in the U.S. and China, per the CNN report.

WndrCo, an investment and operating holding company, disclosed in an SEC filing last year that it had raised nearly $600 million. Katzenberg started the venture after he left DreamWorks Animation with the sale of the studio to Comcast.

A rep for WndrCo declined to comment.

Meanwhile, Katzenberg may not be done fundraising: When he shared his vision exclusively with Variety last year, he said he was seeking $2 billion to fund WndrCo.

What WndrCo’s NewTV is building or intends to build, exactly, remains something of a mystery. Katzenberg has talked in broad strokes about the company attacking the opportunity for what he’s dubbed “New TV”: premium short-form entertainment designed for mobile screens and younger viewers. He also raised the possibility of inking strategic distribution partnerships with a telco or major internet company.

Earlier this year, Katzenberg hired Meg Whitman, former CEO of eBay and Hewlett Packard Enterprise, to lead WndrCo’s NewTV as chief exec.

So far, WndrCo has made smaller investments in a variety of digital media companies, including Whistle Sports, TYT Network, Mixcloud,  and Axios.