German Media Giant Tele Munchen Takes Stake in IP Broker Storied Media Group (Exclusive)
Founded by former ICM agent Todd Hoffman, Storied Media has brokered deals for more than 60 film and TV projects, including 'Patriots Day,' 'Deepwater Horizon' and 'American Honey.'
German media giant Tele Munchen has acquired a minority stake in Storied Media Group, the Santa Monica-based intellectual property broker and production company that reps such publications as The New York Times, Smithsonian, The Huffington Post and New Republic as well as National Public Radio.
Founded by former ICM Media Rights Group head Todd Hoffman, Storied Media has brokered more than 60 projects for film and TV, including Patriots Day to CBS Films. The three-year-old company's focus is repping nonfiction news content and packaging it for the scripted arena. Recent sales include the Huffington Post article "Love in the Age of Big Data," which Storied Media sold to TNT and is being adapted and developed as a series by the network.
The deal marks an interesting move for Tele Munchen, led by founder Herbert G. Kloiber and his son Herbert L. Kloiber, which is a force in Europe as a Munich-based producer, distributor and licenser that also owns several TV channels in Germany and Austria. The company boasts some 3,200 active titles in its program portfolio and is one of the world's largest independent film rights holders. For its part, Tele Munchen says it will be an active investor, with the two companies looking to spawn international co-productions in film and TV.
"Companies are finding that working with all of the agencies is better than working with just one," CEO Hoffman told The Hollywood Reporter of Storied Media's agency-agnostic approach. "Our model allows us to do that. Tele Munchen understands the worldwide value of the Tiffany brands we represent. With their help, we look forward to growing both here and abroad.."
The Tele Munchen investment will bolster Storied Media’s rapid growth as it continues to sign high-end publishers at a time when IP becomes increasingly valuable in the Hollywood ecosystem. As a testament to Storied Media's presence in film and TV space, Hoffman has brokered deals for films and TV projects based on client IP including Deepwater Horizon (Lionsgate), American Honey (A24), 36 Hours (Travel Channel) and APB (Fox). Patriots Day was based on 60 Minutes IP, while Deepwater and American Honey were based on New York Times articles.
“The investment in Storied Media Group follows TMG’s strategic diversification into international co-production opportunities," said Tele Muchen managing director Herbert L. Kloiber. "We are excited to help grow Storied Media Group and to strengthen our local and international portfolio at the same time.”
Michael Gould of Gould & Gould negotiated the A-round financing deal on behalf of Storied Media. David Hernand supervised the team at Paul Hastings on behalf of Tele Munchen Group.