On the heels of Fandor's announcement of Larry Aidem as President & CEO last month and its groundbreaking distribution agreements with HP and multiple OTT distributors, the momentum continues. Earlier today, Chris Kelly, Chairman of Fandor announced the streaming service has completed a $7 million round of funding, including Starz as lead strategic investor.
The raise is a prelude to Fandor's B round, expected to be completed in the coming months.
Said
Starz CEO Chris Albrecht, "At a moment in time when
Starz is aggressively extending its brands-geographically and technologically-we are excited to invest in Fandor. It is a premium content company offering the world's largest selection of independent film titles with a state-of-the-art technology platform. With its top-tier management team led by Chris & Larry, with their reputation and experience, we expect Fandor to be a great investment for Starz."
Added Aidem, "Chris Kelly & I are extraordinarily pleased & honored to have
Starz as Fandor's lead strategic investor. Together with DNS and Aryeh Bourkoff's LionTree-two of the most respected voices in media & entertainment-the prospects for fully realizing our ambitious vision for the business are excellent. On a personal note, I'm delighted to reunite with Chris Albrecht & Aryeh Bourkoff, longtime colleagues & friends with whom I've previously enjoyed tremendous business success."
Founder and CEO of LionTree LLC, Aryeh B. Bourkoff remarked, "Today, everyone in the TMT industry is evaluating the impact of disruption and globalization, and their own strengths and vulnerabilities at home and abroad, Chris & Larry's years of experience in both digital & traditional media are a distinct advantage. Fandor is well-positioned for success in the shifting media ecosystem and LionTree Capital is confident in the Company's ability to make targeted moves that will create lasting value and impact."
Concluded Kelly, "This strategic validation further readies Fandor for rapid expansion in the exploding market for great visual storytelling."
About Starz:
Starz (NASDAQ: STRZA, STRZB) is a leading integrated global media and entertainment company with operating units that provide premium subscription video programming on domestic U.S. pay television channels (Starz Networks), global content distribution (Starz Distribution) and animated television and movie production (Starz Animation),
About DNS Capital: DNS Capital represents the business interests of Michael Pucker and Gigi Pritzker.
About LionTree Capital Partners: LionTree is a global investment and merchant bank focused on mergers and acquisitions advisory, capital markets, capital raising and selectively investing alongside clients. It supports business leaders to take advantage of opportunities at the intersection of telecommunications, media, technology, and rapidly evolving consumer experiences. The company identifies industry changing ideas and connects key relationships to help clients achieve their objectives.
About Fandor: Fandor streams the largest handpicked collection of the most-talked-about independent films from around the world to an audience of film lovers. In addition to its direct to consumer business, the Company has signed a number of
Syndication deals with a combination of existing OTT SVOD players; existing & new MVPD's; and OEM's, including its recently announced groundbreaking collaboration with HP on the highly anticipated Star Wars™ Special Edition Notebook. In 2016, the Company will begin distributing Fandor internationally via agreements with some of the world's leading platforms & brands. To support the full lifecycle of a film, Fandor maintains initiatives across all critical stages of the filmmaking process, partnering with educators, filmmakers, festivals and distributors. Fandor continues to grow its distribution on iOS and Android and across multiple streaming platforms, including smart TVs through Roku, Chromecast and other connected devices.
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