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Top Gun: Maverick production company Skydance Media hits $4bn value with KKR-led investment

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The media production company behind recent box office hit Top Gun: Maverick has hit a $4bn valuation thanks to a new investment round led by private equity giant KKR.

Existing investors RedBird Capital Partners and Tencent also took part in the $400m fundraise, as did the company’s majority shareholders The Ellison Family.

Skydance said the new capital would help accelerate Skydance’s growth initiatives in sports and interactive entertainment, as well as the continued scaling of existing verticals such as animation.

Skydance has a cross-platform approach to IP creation, ownership and distribution, producing entertainment for cinema and for streaming services Amazon, Apple and Netflix.

Ted Oberwager, the KKR partner who leads the gaming, entertainment, media and sports verticals within the firm’s Americas private equity business, said, “Skydance has already created a diverse collection of premium content across multiple formats, and we are only in the early stages of what they can accomplish.

“We look forward supporting the Skydance team as they continue to build their business across TV, film, animation, gaming and sports and tell compelling stories in new and innovative ways.”

Previous KKR media and entertainment investments have included Epic Games, Leonine Studios, RBmedia and ByteDance.

Other recent investments from the firm include a hefty new investment in cybersecurity business NetSPI, with $410m of extra funding.

KKR raised a record-breaking $19bn for its latest North America Fund earlier this year, which it said was to take advantage of a macroeconomic environment “tailor-made for private equity”.

North America Fund XIII is almost 50% larger than the predecessor vehicle the firm closed in 2017, and more than double the size of North America Fund XI from 2014.

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