Candle Media, the Blackstone-backed company launched by former Disney executives Tom Staggs and Kevin Mayer, has confirmed its acquisition of Faraway Road Productions, the Israeli banner behind “Fauda” and “Hit And Run.”
Candle is rolling off three major deals. The next-gen company agreed last week to buy a minority stake in Will Smith and Jada Pinkett Smith’s Westbrook Inc. and previously acquired Reese Witherspoon’s Hello Sunshine (“Big Little Lies,” “Little Fires Everywhere”) for an estimated $900 million, as well as Moonbug Entertainment, whose credits include Netflix’s “CoComelon,” for roughly $3 billion.
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Terms for the acquisition deal of Faraway Road Productions were not disclosed, but is believed to be south of $50 million, as previously reported. The company, founded by Lior Raz and Avi Issacharoff, is set to launch season 4 of “Fauda” on Israeli broadcaster Yes TV and Netflix later this year. Other projects on Faraway Road’s slate include the film “Siege of Bethlehem” which will be directed by Antoine Fuqua, and a spy thriller for Showtime with director Greg Barker.
“Lior and Avi are world-class storytellers who produce exhilarating content that strikes a chord globally with audiences across cultures and languages,” said Mayer and Staggs. “They are exactly the type of partners we and Blackstone are looking to invest behind, and we are excited to work with them to further accelerate Faraway Road’s growth trajectory.”
Raz and Issacharoff added: “Partnering with Kevin, Tom, Blackstone and the unbelievable creators that are part of the Candle family will allow us to significantly accelerate that, while participating in creating the next-generation media company that puts creators first.” The pair said Faraway was “founded to bring authentic and engaging international stories to global audiences.”
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