Kevin Mayer and Tom Staggs’ Blackstone-backed media venture has set its next acquisition, of Faraway Road Productions, the company behind Fauda and Hit & Run, Deadline has confirmed.
The deal will likely be announced early in the new year, according to people familiar with the transaction. It will be the duo’s third following Reese Witherspoon’s Hello Sunshine (Big Little Lies, Little Fires Everywhere) and Moonbug Entertainment, producer of Netflix runaway kids’ favorite CoComelon. Those deals were worth, respectively, about $900 million and $3 billion. Faraway, founded by Lior Raz and Avi Issacharoff, will be smaller, under the $50 million mark.
Mayer and Staggs, who were longtime colleagues at Walt Disney, have been assembling assets for the streaming era and its exploding demand for premium content.
Faraway Road Prods.’ Raz and Issacharoff renewed an overall television deal with Netflix late last summer and are working with the streamer to develop and produce original programming. Fauda, the acclaimed Israeli political thriller debuted in 2015 and launched on Netflix the following year. In Fauda, which means ‘chaos’ in Arabic and is currently in production on Season 4, a top Israeli agent comes out of retirement to hunt for a Palestinian fighter he thought he’d killed, setting a chaotic chain of events into motion. It’s one of Israel’s most well-known series internationally and with this upcoming season will become the country’s longest running action series.
In Hit & Run, which debuted on Netflix in August, a happily married man’s life is turned upside down when his wife is killed in a mysterious hit and run accident in Tel Aviv.
Bloomberg first reported the upcoming deal.
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