‘Parasite’ backer Cj Entertainment, RedBird Capital in $275m Skydance investment

Partners aim to create universally appealing stories, strengthen presence across Asia-Pacific region.

Hot off Parasite’s historic Oscar wins, Skydance Media has announced a $275m strategic investment by RedBird Capital Partners and Cj Entertainment and Merchandising (Cj Enm), the studio behind the South Korean phenomenon.

Sources said the investment set Skydance valuation at $2.3bn.

The backing of RedBird, Cj Enm and its production subsidiary Studio Dragon is designed to help David Ellison’s company expand its global footprint in film, television, animation and interactive platforms. Skydance’s current investor base including the Ellison family and Tencent Holdings Ltd also participated in the investment round.
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