Sugar23, the company founded by Oscar-winning producer and manager Michael Sugar, is expanding in a bid to become a global media enterprise.
The production company has made several key hires, including a chief financial officer and general counsel, and is launching a book division and a podcast division.
The company also announced it has also raised $30 million with SWaN & Legend Venture Partners and MRC that will spur the move beyond its current core production business (MRC is a co-owner ofThe Hollywood Reporterthrough a joint venture with Penske Media titled PMRC).
Sugar23, which bills itself as having a mandate of "storytelling with integrity," has so far focused mainly on film and series production thanks to a rich deal with Netflix..
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