RedBird Becomes Lead Investor in Puck at $250 Million Valuation

RedBird Capital Partners completed a deal to become the lead investor in subscription-focused digital publisher Puck, valuing the company at about $250 million. The investment is intended to fund hiring, acquisitions and expansion into new markets, while existing investors TPG and Standard Investments exit and RIT Capital remains a minority shareholder. Puck’s leaders say its editorial independence and subscription-based strategy will remain unchanged, despite questions raised by RedBird’s investments in companies that Puck covers, including Paramount and Warner Bros.