RedBird Capital Partners
{{short description|American investment management firm founded in 2014}}
{{use American English|date=March 2024}}
{{use mdy dates|date=March 2024}}
{{Infobox company
| name = RedBird Capital Partners
| logo = RedBird.png
| founded = {{start date and age|2014}}
| founder = Gerry Cardinale
| key_people = Gerry Cardinale (managing partner)
John Thornton (chairman)
Hamid Biglari (senior partner)
Jeff Zucker (executive)
Mansour bin Zayed Al Nahyan (investor)
| hq_location = New York City, New York, United States
| divisions =
| subsid = RedBird IMI (joint venture with International Media Investments)
| website = {{URL|redbirdcap.com}}
}}
RedBird Capital Partners is an American investment management firm founded in 2014 in New York by Gerry Cardinale.{{Cite web |first1=Hayley |last1= Cuccinello |first2= Dakin |last2= Campbell |title= How Gerry Cardinale became the go-to dealmaker for the Yankees, AC Milan, and Ben Affleck |url=https://www.businessinsider.com/gerry-cardinale-redbird-capital-partners-ac-milan-yankees-2022-12 |access-date= 2024-01-06 |website= Business Insider |language= en-US}} The company has assets under management of over $10 billion as of 2022.{{Cite web |last=viapiuser |date=2020-12-22 |title=Gerry Cardinale |url=https://variety.com/exec/gerry-cardinale/ |access-date=2024-01-06 |website=Variety |language=en}}{{Cite web |last=root |date=2022-05-20 |title=Chi è RedBird, il fondo pronto all'acquisto del Milan |url=https://www.calcioefinanza.it/2022/05/20/chi-e-redbird-capital-milan/ |access-date=2024-01-06 |website=Calcio e Finanza |language=it-IT}}
Investments
RedBird is active in several tertiary sectors such as consumer goods, financial services, telecommunications, media, technology and sports.{{Cite web |last=Sport |first=Sky |date=2023-07-31 |title=RedBird Capital Partners, chi è la società proprietaria del Milan {{!}} Sky Sport |url=https://sport.sky.it/calcio/serie-a/milan-redbird-capital-chi-e |access-date=2024-01-06 |website=sport.sky.it}} The company serves as producer of Amazon’s Reacher series and Paramount’s Top Gun: Maverick. RedBird has also invested in Ben Affleck and Matt Damon's Artists Equity, LeBron James and Maverick Carter’s SpringHill Company and the Fenway Sports Group.
In August 2019, RedBird acquired a minority stake in YES Network, after helping Yankee Global Enterprises activate their buy back option to purchase Fox's 80% share for $3.5 billion after Disney acquired 21st Century Fox during the same year after the Department of Justice ordered Disney to sell the network on antitrust grounds due to its ownership of ESPN.{{cite web|url=https://www.bloomberg.com/news/articles/2018-08-11/fight-for-fox-local-sports-channels-could-shake-up-broadcasting|title=Fight for Fox Local Sports Channels Could Shake Up Broadcasting|last1=Smith|first1=Gerry|last2=Ahmed|first2=Nablia|work=Bloomberg|date=August 11, 2018|access-date=August 17, 2018|archive-date=August 18, 2018|archive-url=https://web.archive.org/web/20180818052301/https://www.bloomberg.com/news/articles/2018-08-11/fight-for-fox-local-sports-channels-could-shake-up-broadcasting|url-status=live}}{{Cite web|url=https://deadline.com/2019/08/yes-network-amazon-new-york-yankees-sinclair-broadcast-group-disney-fox-1202707647/|title=YES Network Finalizes $3.5B Sale To New York Yankees, Sinclair And Amazon|website=Deadline Hollywood|date=August 29, 2019|last=Hayes|first=Dade|access-date=August 29, 2019|archive-date=August 29, 2019|archive-url=https://web.archive.org/web/20190829225846/https://deadline.com/2019/08/yes-network-amazon-new-york-yankees-sinclair-broadcast-group-disney-fox-1202707647/|url-status=live}} On August 31, 2022, the company completed the acquisition of AC Milan from the US fund Elliott Investment Management for €1.2b. RedBird also owns Toulouse FC, a club from the city of the same name that plays in Ligue 1 since 2020 and acquired a minority stake in Liverpool F.C. in 2021.{{Cite web|first=Andy|last=Hunter|title=Liverpool boost as owners confirm $735m RedBird deal for stake in FSG|url=https://www.theguardian.com/football/2021/mar/31/liverpool-boost-as-owners-confirm-735m-redbird-deal-for-stake-in-fsg|work=The Guardian|date=2021-03-31|access-date=2023-05-19}}{{Cite web |title=RedBird Capital Partners completa l'acquisizione di AC Milan |url=http://www.acmilan.com/it/news/articoli/club/2022-08-31/redbird-capital-partners-completa-l-acquisizione-di-ac-milan |access-date=2024-01-06 |website=AC Milan |language=it}}{{Cite web |language=fr-FR |title=Foot : Toulouse vendu au fonds américain Redbird Capital Partners |url=https://www.leparisien.fr/sports/football/foot-toulouse-vendu-au-fonds-americain-redbird-capital-partners-20-07-2020-8355663.php |website=leparisien.fr |date=2020-07-20 |access-date=2023-05-19}}
In February 2020, RedBird invested in Skydance Media.{{Cite web |last=D'Alessandro |first=Anthony |date=February 11, 2020 |title=Skydance Gets $275M Infusion From RedBird Capital & 'Parasite' Studio CJ, Raising Valuation To $2.3B |url=https://deadline.com/2020/02/skydance-cj-parasite-studio-redbird-capital-investment-1202857706/}} In August 2020, the company acquired the assets of the XFL for $15 million, along with Dany Garcia and Dwayne Johnson, from the brand's founder, Vince McMahon.{{Cite web |last=Hayes |first=Dade |date=2020-08-03 |title=XFL Acquired By Dwayne Johnson, Dany Garcia And RedBird Capital Partners |url=https://deadline.com/2020/08/xfl-acquired-by-dwayne-johnson-dany-garcia-redbird-capital-partners-1203002289/ |access-date=2024-01-06 |website=Deadline |language=en-US}}
In June 2023, former media executive Jeff Zucker joined as an executive at a RedBird subsidiary co-owned with International Media Investments (IMI), a state-funded enterprise of the United Arab Emirates owned by Sheikh Mansour bin Zayed Al Nahyan. The joint venture, known as RedBird IMI, allows IMI to invest in RedBird's sports and entertainment properties.{{Cite news |last=Mullin |first=Benjamin |date=2023-06-04 |title=Former CNN Chief Jeff Zucker Has a New Job at RedBird IMI. What Is It? |language=en-US |work=The New York Times |url=https://www.nytimes.com/2023/06/04/business/jeff-zucker-redbird-imi.html |access-date=2023-06-19 |issn=0362-4331}}{{Cite web |last=Hayes |first=Dade |date=2022-12-13 |title=Jeff Zucker, RedBird Capital And Abu Dhabi's IMI Formalize Joint Venture With $1B Earmarked For Media And Sports Investments |url=https://deadline.com/2022/12/jeff-zucker-redbird-capital-abu-dhabi-imi-form-joint-venture-media-sports-investment-1235197664/ |access-date=2023-06-19 |website=Deadline |language=en-US}}
In December 2023, RedBird announced a merger between the XFL and USFL to be called United Football League (UFL) starting in 2024.{{Cite web |last=Weprin |first=Alex |date=2023-12-31 |title=Combined XFL and USFL to be Called UFL, Will Air Games on Fox and ESPN Platforms Starting in 2024 |url=https://www.hollywoodreporter.com/business/business-news/new-football-league-ufl-created-xfl-usfl-merger-2024-launch-1235777227/ |access-date=2024-01-06 |website=The Hollywood Reporter |language=en-US}} In July 2024, the company funded Skydance Media's planned acquisition of National Amusements from the Redstone family, a purchase that would also include a controlling stake in Paramount Global.{{Cite web |last=Rizzo |first=Lillian |date=2024-07-08 |title=Paramount agrees to merge with Skydance, ending monthslong negotiations and Redstone era |url=https://www.cnbc.com/2024/07/08/paramount-skydance-merger.html |access-date=2024-07-09 |website=CNBC |language=en}}
On 23 November 2024, Sky News reported that CVC Capital Partners, TF1, RedBird Capital Partners, All3Media, Mediawan and Kohlberg Kravis Roberts had been linked to a potential takeover bid for ITV plc and a possible break-up of core assets such as ITV Studios and ITVX.{{cite news|url=https://news.sky.com/story/itv-back-in-spotlight-as-suitors-screen-potential-bids-13258866|work=Sky News|title=ITV back in spotlight as suitors screen potential bids|date=2024-11-23}}
On 30 January 2025, Reuters reported that RedBird IMI were in early-stage talks with ITV plc to merge the All3Media and ITV Studios production businesses.{{cite news|url=https://www.reuters.com/markets/deals/itv-redbird-imi-hold-early-stage-talks-merge-production-businesses-sources-say-2025-01-30/|work=Reuters|title=Exclusive: ITV, RedBird IMI in early-stage talks to merge production businesses, sources say|date=2025-01-30}}
In May 2025, RedBird announced plans to acquire the Telegraph Media Group, publisher of daily British newspaper The Telegraph, for £500 million (about $674 million).{{Cite web |last=Ramachandran |first=Naman |date=2025-05-23 |title=RedBird Capital Swoops on Telegraph Media Group in $674 Million deal |url=https://variety.com/2025/biz/news/redbird-capital-telegraph-media-group-674-million-deal-1236407844/ |access-date=2025-05-23 |website=Variety |language=en-US}}
References
{{reflist}}
External links
- {{official website|redbirdcap.com}}