Monday, May 27, 2024

Charles King Raises $150M Additional Financing for his Multicultural Media Company Macro

Charles King
Charles King

*Macro, the multicultural media company founded by former Hollywood agent Charles King, has raised an additional $150 million in financing from a number of investors, according to The Hollywood Reporter.

Macro’s first feature for a major studio was “Fences,” directed by and starring Denzel Washington, which was distributed by Paramount last year and received four Oscar nominations.

Macro is also prepping for the November release of “Mudbound,” from director Dee Rees. It also co-financed “Roman J. Israel, Esq.” starring Washington and Colin Farrell, and has projects in development with Ryan Coogler, Ava DuVernay, Michael B. Jordan, Eva Longoria and Justin Simien.

The recent investment round, which incudes equity and debt financing, will allow Macro to finance and produce between four and six film and television projects each year. That slate will build on the aforementioned existing projects from Macro.

The investor pool includes Laurene Powell Jobs‘ philanthropic and investment vehicle Emerson Collective, which got in during the company’s early days. Other participants in the round include Ford Foundation, W.K. Kellogg Foundation and the Libra Foundation.

Macro’s existing investors also include MNM Creative, MediaLink and a roster of angel investors. Macro previously raised an undisclosed eight-figure round. Concurrent to this latest transaction, Macro has closed a credit facility with Bank of America Merrill Lynch.

“With Macro going into its third year, we have seen the initial seeds we planted come to fruition both commercially and critically,” said King, who serves as Macro’s CEO. “Our success is proof that our slate is striking a chord with audiences globally. This round of financing provides the capital necessary to build a robust slate of content that authentically represents the multi-faceted spectrum of our communities.”

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