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May 5 (Reuters) – The Chernin Group, an investment firm known for backing emerging media, commerce and technology companies, announced on Thursday that it will lead a consortium making a $263 million investment in the lifestyle brand Funko Inc (FNKO.O).
TCG and its investor consortium are acquiring 12.5 million shares of Funko Class A stock from ACON Investments, and will own a 25% share of the company following completion of the transaction. Other investors include former Disney CEO Robert A. Iger, Rich Paul, chief executive and founder of Klutch Sports Group, and eBay Inc (EBAY.O).
As part of the online marketplace’s investment, eBay will become a preferred secondary market for Funko, a maker of toys, stuffed animals, apparel, board games and other collectibles including digital nonfungible tokens.
TCG co-founder and partner Jesse Jacobs said collectors are passionate about the company’s Funko Pop! figurines. He said he sees an opportunity for the company to capitalize on this popularity in new ways – as happened with another company in which TCG has invested, Exploding Kittens, whose card game will be adapted into an animated series and a mobile game for Netflix Inc (NFLX.O).
Reporting by Dawn Chmielewski in Los Angeles
Editing by Matthew Lewis
Our Standards: The Thomson Reuters Trust Principles.
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press. All rights reserved.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press. All rights reserved.
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