German media company Tele München Group (TMG) has acquired a stake in Storied Media Group, a US-based rights brokerage and production house.
Details on the share volume and price were not disclosed. The investment will fuel Storied Media Group’s growth as it stays focused on its mandate of serving high end publishers in Hollywood with its agency-agnostic business model, according to the companies.
This will be an active investment, as both sides will also look to build multiple international co-production opportunities in film and television together.
“I am so excited to welcome our new partners and am looking forward to their help in our continued expansion. TMG is the perfect strategic partner for Storied Media Group as we enter this next phase of our development,” said CEO Todd Hoffman who founded Storied Media Group in 2013.
Herbert L. Kloiber, managing director of TMG, added: “The investment in Storied Media Group follows TMG’s strategic diversification into international co-production opportunities. We are excited to help grow Storied Media Group and to strengthen our local and international portfolio at the same time.”