Former SBS and CBS bosses launch US$500 million Double Eagle

Harry Sloan

Entertainment industry veterans Jeff Sagansky and Harry Sloan are launching Double Eagle, a US$500 million business that will seek to invest in international TV, OTT content and new, disruptive digital platforms.

The pair have already launched two previous investment funds in Global Eagle and Silver Eagle. The former acquired Row 44 and Advanced Inflight Alliance and the latter Indian satellite TV operator Videocon d2h.

Sloan and Sagansky are offering 50 million shares in their new venture, priced at US$10 apiece with the shares trading on the NASDAQ Capital Market. They said that the proceeds will be used to invest in companies with market capitalisation of about US$1.5 billion, specifying four areas of opportunity: international TV, international OTT content companies, IP owners and emerging new platforms.

Former SBS Broadcasting and MGM chief Sloan is a founding investor in the business and former CBS Entertainment boss Sagansky managing member. As with the previous two operations, James Graf is CFO and Eli Baker vice president and general counsel.