PRESS RELEASE:
Diverse range of investors signal widespread vote of confidence for new venture with eight-figure round
LOS ANGELES–(BUSINESS WIRE)–September 2, 2015–
MACRO, the next generation multi-platform media company founded by former WME Partner/Agent Charles D. King, announced today that it has closed its first round of funding earlier this summer.
“I couldn’t be more thrilled with this incredible group of partners and investors. Among them, they represent some of the most boundary-pushing, innovative thinkers and leaders in their respective fields of technology, finance and media,” says Charles D. King, CEO & Founder of MACRO. “Most importantly, these individuals ascribe to the global vision of MACRO and understand what a tremendous opportunity awaits us. Their endorsement enables MACRO to create universally themed premium content for the African American, Latino and multicultural market, which has been vastly underserved for too long.”
MACRO received a boost from its lead investor Emerson Collective, founded by Laurene Powell Jobs. Emerson Collective supports social entrepreneurs who are innovating ways to create lasting avenues for social and economic mobility. Powell Jobs shapes the vision of the company and their focus on collaborating with partners who harness the entrepreneurial spirit and are determined to disrupt the status quo by accelerating positive change.
King has also secured financing from MNM Creative, a multimedia and entertainment company with offices in Shanghai, Hong Kong and Los Angeles. The firm is dedicated to supporting, producing and financing diversity-driven, multicultural content across all media with its strategic partners in the U.S. and across Asia. Also participating in the round is digital media expert Michael Kassan’s firm Medialink. Medialink is a strategic advisory and business development firm that operates at the intersection of media, marketing, advertising, entertainment, technology and finance.
Other notable investors in the company include Wall Street Titan and MACRO advisor, Raymond J. McGuire, Global Head of Corporate and Investment Banking at Citibank, tech entrepreneur/investor Justin Yoshimura and Michael Kane, Managing Director of the Los Angeles based private equity firm Caltius Capital.
“Charles is uniquely poised to lead what’s sure to become the kind of media company that will launch careers and brands, but more importantly add rich value to our entertainment culture,” said Laurene Powell Jobs. “Charles has an extraordinary set of creative instincts – he’s demonstrated a remarkable ability to amplify talent, trends, and content to multi-cultural audiences throughout his career.”
Corey Martin of Davis, Shapiro, Lewit, Grabel, Leven, Granderson and Blake structured the holding company financing for MACRO alongside co-counsel Irell & Manella and Latham & Watkins.
MACRO has already lined up projects from filmmakers Ryan Coogler (Creed, Fruitvale Station) and Craig Brewer (Hustle & Flow) that will be announced at a later date.
ABOUT MACRO
Launched in 2015, MACRO is an innovative media asset holding company founded by Charles D. King, former long-time partner at William Morris Endeavor (WME). The disruptive entertainment company is focused on premium content creation, distribution and engagement for African American, Latino and multicultural (ALM) audiences. King is the first and only African American to rise from the mailroom to partner in the 116-year history of WME. His career as an agent spanned over 15 years, during which he was known for his innovative deal making and his strategic planning in developing brands for and around his clients. The executive and management team at MACRO includes Ronald Hohauser as Chief Financial Officer, Poppy Hanks as SVP/Development and Production and Michael Palank as VP/Digital and Business Development. Ted Sarandos, Chief Content Officer at Netflix and Raymond J. McGuire, Global Head of Corporate and Investment Banking at Citibank, serve on the advisory board of the company. MACRO’s headquarters are in the Kilroy Realty Sunset Media Center in the heart of Hollywood. Go to www.macro.ventures for more information.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150902005293/en/
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