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Two crossed lines that form an X . It indicates a way to close an interaction, or dismiss a notification. Left to right: Reid Hoffman, Joanna Coles, Kevin Mayer. Getty Images
A growing number of SPACs are focusing on acquiring media companies and taking them public.
Media vets like Charlie Ergen, Joanna Coles, and Greg Coleman are spearheading SPACs.
Insider identified 12 media SPACs worth watching in media, telecommunications, and entertainment.
A growing number of execs and investors are looking to cash in on media through special-purpose acquisition companies.
SPACs are blank-check companies set up to acquire and take companies public, often with less scrutiny, cost and time than a traditional initial public offering. SPACs have been viewed critically by some as riskier for investors, but they have boomed over the past year.
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From left: Lionheart’s Ophir Sternberg, Fifth Wall’s Brendan Wallace, Chamath Palihapitiya, Supernova Partners’ Spencer Rascoff and Proptech Acquisition II’s Tom Hennessy (Getty, LinkedIn, iStock)
It’s a good time to be a startup aspiring to go public.
Investors plowed more than $83 billion into blank-check companies last year and 11 days into 2021, they’ve invested $7.2 billion more.
More than a half-dozen of those entities, also known as special-purpose acquisition companies, are targeting proptech startups. The VC firm Fifth Wall Ventures was the latest to jump into the fray, and other big firms including CBRE and SoftBank have recently hopped on the SPAC bandwagon.