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Sugar23 Raises $30 Million, Expands Executive Hires, Adds Departments

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thewrap.com
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Sugar23,  a Los Angeles media company founded by Academy Award-winning producer Michael Sugar (“Spotlight”), has raised $30 million and added key executives to oversee new areas of management, content creation, production and branding, the company said Wednesday.The funding, led by SWaN & Legend Venture Partners and MRC, goes toward company development beyond Sugar23’s multiyear movie production deal with Netflix and aids in company expansion into podcasting and book publishing.Sugar23 also announced it has acquired the rights to the New York City luxury retailer Bonwit Teller and that it is developing plans to relaunch the brand and has partnered with experiential agency Blue Revolver to bring to market new virtual-event technology.“I.

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