Clarion Capital Partners has formed V10 Entertainment as a platform investment to begin a buildup within the entertainment sector.
In tandem with the formation of V10, the new platform has acquired Venture 10 Studio Group, a content production company owned by John Stevens, who founded Zoo Productions and Hangar 56 Media and now becomes the CEO of V10; and Hans Schiff, a former non-scripted agent at Creative Artists Agency who now becomes the president of V10. Non-scripted shows include reality shows, variety shows, game shows, and awards shows.
Additionally, V10 has acquired Vin Di Bona Productions (VDBP), the creator and producer of America’s Funniest Home Videos. In partnership with V10, Vin Di Bona will remain as the CEO and president of VDBP.
America’s Funniest Home Videos (AFV), a presenter of comedic content through viewer-submitted videos and audience participation, is in its 33rd season and is one of the longest-running primetime entertainment shows in the history of ABC, and television generally.
“Vin Di Bona is one of the most successful and well-respected television producers of all time,” said Mr. Stevens. “We are thrilled to have the opportunity to work alongside him and his incredible team.”
V10 will operate as a hub to monetize the unscripted and evergreen content of AFV across a variety of video mediums including streaming services, television networks, video-sharing websites, and social media. Additionally, V10 will look to add additional family-friendly, non-fiction traditional and digital content through both acquisition and new production.
“We are excited to partner with Vin and his team. VDBP is a legendary production company that has been a leader for decades,” said David Ragins, a managing director at Clarion. “We have developed a thematic focus on investing in video content that can be effective in multiple channels including traditional TV, CTV, and digital. VDBP is Clarion’s first step in building a new, industry-leading platform.”
“As I approach my 55th year as a producer, director, and broadcaster, I can think of nothing more invigorating than beginning a bold, new chapter in my career,” said Mr. Di Bona. “Innovating new directions in television and media, my lifelong work, will continue as VDBP and V10 create comedy and life-reflective programs for a multitude of content-savvy viewers.”
Monroe Capital was the sole lead arranger and administrative agent on the funding of a senior credit facility to support the formation of V10 and the acquisitions of Venture 10 Studio Group and Vin Di Bona Productions. This transaction is representative of Monroe Capital’s Media Finance Vertical – led by Managing Director Matthew Rosenberg – which provides financing to companies in film and television, music, talent, traditional media, digital, and production adjacent businesses.
Monroe Capital (NASDAQ: MRCC) provides senior and junior debt financing to middle-market businesses, special situation borrowers, and both private equity and independent sponsors. Investment types include direct lending, asset-based lending, specialty finance, opportunistic and structured credit, and equity co-investments. The firm was founded in 2004 and is headquartered in Chicago with additional offices in Atlanta, Boston, Los Angeles, Miami, Naples, New York, San Francisco, and Seoul.
New York City-based Clarion Capital makes control and minority equity investments of $15 million to $75 million in businesses with at least $7.5 million of EBITDA. Sectors of interest include media, entertainment and technology, consumer and retail, business and healthcare services, and financial services.
© 2023 Private Equity Professional | January 26, 2023
