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Post by The Ultimate Nullifier on Jan 26, 2017 17:26:05 GMT -6
deadline.com/2017/01/jeffrey-katzenberg-raises-cash-new-venture-wndrco-1201894926/Jeffrey Katzenberg Raises Cash For A New Venture: WndrCo Jeffrey Katzenberg now has Hollywood wondering about WndrCo — his latest venture, according to an SEC filing today. The brief document shows that he sold $591.5 million worth of “membership units,” classified as a form of equity — and is continuing to raise cash. It doesn’t list individual investors, but says there are 18 who each had to put up a minimum of $25 million. The former DreamWorks Animation CEO lists himself as manager of the enterprise. He’s joined by former DWA president Ann Daly and former Dropbox CFO Sujay Jaswa, who are listed as executive officers, directors and promoters of WndrCo. It filed as a Limited Liability Company, which means officers can’t be held personally responsible for its actions. Katzenberg, in the filing, declined to disclose the company size. The filing is under the SEC’s Rule 506(b). That enables WndrCo to solicit additional shareholders without filing a formal securities offering. But it can only take money from so-called “accredited investors” who are supposed to be sophisticated about the market. Companies raising cash this way typically aren’t allowed to talk up their plans publicly. Katzenberg sold DWA to Comcast in August for $3.8 billion. As part of that deal he agreed to remain as chairman of DreamWorks New Media, to include interests in AwesomenessTV and Nova. He also said he’d consult with NBCUniversal.
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Post by The Ultimate Nullifier on Jan 27, 2017 11:02:12 GMT -6
www.hollywoodreporter.com/news/jeffrey-katzenberg-raises-600-million-new-venture-wndrco-968958Jeffrey Katzenberg Raises $600 Million for New Venture, WndrCo He stepped down from his post as DreamWorks Animation CEO after selling the company to NBCUniversal last year. New details have emerged about Jeffrey Katzenberg's next act following the sale of DreamWorks Animation to NBCUniversal last year. The longtime Hollywood mogul has raised close to $600 million for a new venture called WndrCo LLC, according to a regulatory filing made public on Thursday. There has been much speculation in media and investment circles that Katzenberg planned to invest in and build digital media ventures following his departure from DWA, and this filing appears to confirm those plans. The filing indicates that WndrCo has not yet completed its fundraising. Sources tell The Hollywood Reporter that the company is looking to raise closer to $750 million. Katzenberg is listed as an executive officer and director for the company, which has a Beverly Hills address, alongside former DreamWorks Animation president Ann Daly and former Dropbox CFO Sujay Jaswa. The company's investors are not disclosed. Katzenberg's DWA sold to NBCU for $3.8 billion and he stepped down as CEO to become chairman of DreamWorks New Media, a division that includes AwesomenessTV. He left his post earning $400 million from the deal. The vision for WndrCo, which will lean on the media and entertainment backgrounds of Katzenberg and Daly while also relying on Jaswa's operational and investing experience, is said to be modeled after Barry Diller's IAC, with the goal of not just investing in digital and tech ventures but also overseeing operations. The Wall Street Journal first reported on the filing. Jan. 26, 12:23 p.m.: Updated to include additional details about WndrCo.
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