Former chief of 21st Century Fox is beginning to invest some of the $2.2 billion he made from the sale of the company’s major entertainment properties
By Benjamin Mullin
JAMES MURDOCH IS PLANNING TO SPLURGE ON COMIC BOOKS.
Mr. Murdoch, who served as CEO of 21st Century Fox, will personally reap $2.2 billion from the $71.3 billion sale of the company’s major entertainment assets to Walt Disney Co., according to people familiar with the matter. He is looking to take the bulk of his proceeds and strike out on his own.
One of his first bets is a $5 million stake in a comic-book publisher.
the company’s initial bets is a stake in Artists, Writers and Artisans, a venture-backed publisher of comic books led by Bill Jemas, the former publisher and chief operating officer of Marvel. AWA wants to create a universe of characters that it can license for motion pictures, videogames and other merchandise in the same way Disney’s Marvel Cinematic Universe has spawned a franchise worth billions of dollars.
“The value of storytelling is only going up, and AWA is uniquely positioned to create a tremendous platform for writers and artists,” said Mr. Murdoch, 46.