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In a bid to become a global media enterprise, the company has launched book and podcast divisions and is re-prioritizing with a focus on management.
Sugar23, the company founded by Oscar-winning producer and manager Michael Sugar, is expanding in a bid to become a global media enterprise.
The production company has made several key hires, including a chief financial officer and general counsel, and is launching a book division and a podcast division. The company also announced it has also raised $30 million with SWaN & Legend Venture Partners and MRC that will spur the move beyond its current core production business (MRC is a co-owner of
Sugar23 Raises $30 Million, Expands Executive Hires, Adds Departments
“I wanted the infrastructure to be in place to uniquely and completely service artists,” says company founder Michael SugarDiane Haithman | January 6, 2021 @ 10:00 AM Last Updated: January 6, 2021 @ 10:13 AM
Sugar23 founder Michael Sugar and wife Lauren (photo credit: Getty Images)
Sugar23, a Los Angeles media company founded by Academy Award-winning producer Michael Sugar (“Spotlight”), has raised $30 million and added key executives to oversee new areas of management, content creation, production and branding, the company said Wednesday.
The funding, led by SWaN & Legend Venture Partners and MRC, goes toward company development beyond Sugar23’s multiyear movie production deal with Netflix and aids in company expansion into podcasting and book publishing.