Range Media Partners Secures Growth Capital from Verance Capital to Drive Sports Expansion

Verance Joins Recently Announced Funding Round from Liberty Global, Wildcat Capital Management and Playground Productions

NEW YORK, August 14, 2024–(BUSINESS WIRE)–Range Media Partners, a diversified global talent representation and production company that includes the rapidly expanding Range Sports sports division, today announced that it has secured a minority investment from Verance Capital, a prominent New York-based growth investment firm focused on sports, media and entertainment. Verance joins Range’s recently announced new group of strategic investors, including Liberty Global, New York-based family office Wildcat Capital Management and family entertainment company Playground Productions, to drive growth opportunities, strategic acquisitions, new ventures and expansion in existing and new verticals and markets.

Range Media Partners formed Range Sports in the summer of 2022, and since then the division has rapidly established itself as one of the most dynamic and diverse businesses in the industry, spanning athlete representation, real estate representation, brand consulting, IP development and content production. Over the past year, Range Sports has acquired growth companies in media rights, athlete marketing, soccer, golf and the Olympic Games, solidified its reputation as a leading representation firm for female athletes, expanded its property rights division with key hires and continues to expand its content ambitions, highlighted by its partnership with the CW Network and its recently announced partnership with the New York Mets.

“We have been very methodical in building Range Sports, focusing on representation in key verticals and offering best-in-class capabilities in high-value, high-impact arenas,” noted Will Funk and Greg Luckman, co-CEOs of Range Sports. They explained, “With Range Media Partners, we have been equally deliberate in identifying the ideal strategic partner to help us accelerate our growth through investment and acquisition. We are honored to partner with Verance in this progressive new chapter of Range Sports.”

Launched in 2020 with the backing of Ted Segal, majority owner of Houston Dynamo and Dash, Verance partners with leading entrepreneurs and management teams to provide early-stage and growth-stage capital in sports, media and live entertainment. Verance’s robust portfolio includes companies and innovators that are shaping the future of these industries and underscores the fund’s commitment to emerging technologies, media distribution and content production, and trade-driven experiences. With this new strategic partnership and growth financing, Range will be able to further strengthen its aspirations across all categories of its business, focusing on building and/or acquiring high-growth, high-value assets in sports.

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Lyle Ayes, Founder and CEO of Verance, stated, “We are excited to partner with the Range team to help accelerate their expansion into the sports and entertainment sector. Range has quickly established itself as a leader in these verticals, and our complementary portfolios and sector expertise made this a natural partnership. We look forward to a successful collaboration as Range continues to innovate and scale for the long term.”

Verance joins an investor group that includes affiliates of Liberty Global and an investment fund advised by Wildcat Capital Management, as well as Rick Hess, led by Forest Road Asset Management LLC, who is joined by investment from Playground Productions. This new investor group joins existing strategic investors Range Point72 Ventures and A+E Networks.

About the assortment

Range Media Partners helps the most creative and ambitious minds build cultural capital, amplify their truly extraordinary and diverse voices, and unlock full global value across all businesses. Through talent representation, production, storytelling, live experiences, data, Web3/AI strategies, and venture incubation, we drive strategic growth and innovation for our clients across film, television, music, sports, literature, digital, gaming, activism, business, and brand. Our mission is to maximize value, diversify and scale opportunities, and build the future of entertainment and culture. From supporting the efforts of athletes on and off the pitch, to creating premium content, to monetizing rightsholder assets, Range Sports’ goal is to build a thriving ecosystem for talent, properties, and brands in sports. In partnership with Range’s television and film studio, Range Sports develops scripted and unscripted projects, and advises clients on commercial rights, media/content distribution, brand partnerships, and business development/incubation.

About Verance Capital

Verance Capital is a growth investment firm that partners with leading entrepreneurs and management teams in the sports, media and live entertainment industries. With a flexible, long-term approach to investing, Verance leverages its industry expertise and extensive global network to drive success for its partners. For more information, visit www.verancecap.com.

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Sean Brech, DKC, [email protected]