Germany’s Tele München Group has bought a stake in US rights broker and producer Storied Media Group.
The deal, financial terms of which were not discussed, hands Munich-based TMG an undefined equity stake in SMG, which has sold more than 60 TV and film projects in just over three years since launch.
The investment is described as “active”, and will see the pair looking “to build multiple international coproduction opportunities in film and television together”.
Furthermore, TMG’s investment would allow SMG to “fuel…rapid growth as it stays focused on its mandate of serving high end publishers in Hollywood with its ‘agency-agnostic’ business model”.
Veteran Hollywood agent Todd Hoffman launched SMG in September 2013 after leaving his role as head of media rights at ICM Partners. He has since brought through projects such Matt Nix’s Fox drama APB, which debuts in mid-season in the US.
“The investment in Storied Media Group follows TMG’s strategic diversification into international coproduction opportunities,” said TMG managing director Herbert L. Kloiber, who is the son of company founder Herbert G. Kloiber.
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20 June 2018 @ 12:15:00 UTC