Katzenberg’s NewTV Video Startup Raises $800 Million
- Hollywood mogul looks to make shows with short running times
- Executive helped lead Walt Disney’s comeback during the 1980s
Photographer: franckreporter/E+ via Getty Images
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Hollywood mogul Jeffrey Katzenberg has secured about $800 million in financing for his video startup NewTV, which the company will use to fund high-end TV series that have YouTube-length episodes, according to people with knowledge of the matter.
A constellation of large media companies, including 21st Century Fox Inc. and Warner Bros., is supplying NewTV with about $200 million, said the people, who asked not to be identified because the discussions are private. NewTV has secured the rest of its financing from institutional investors, according to the people, and it plans to announce the fundraising in the coming weeks.