RedBird clinches deal to become lead investor in Puck

RedBird Capital Partners has completed its deal to become the lead investor in the digital media company Puck, valuing the enterprise at $250 million.

The deal was announced to Puck staff Thursday in an email from CEO Sarah Personette and co-founder and editor-in-chief Jon Kelly, which was viewed by The Hollywood Reporter.

The deal will see current investors TPG and Standard Investments exit, with RIT Capital remaining a minority investors. Puck staff with vested stock options will also get some liquidity in the deal, with the company expected to roll out a new equity incentive plan going forward.

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