Wayfarer Entertainment, the production outfit specializing in inspirational content that was co-founded by Jane the Virgin star Justin Baldoni, has sold a majority equity stake to a private investment fund called 4sbay.
The investment values Wayfarer at $10 million. 4sbay’s funds will also be directed toward a new $25 million content fund, with Wayfarer looking to launch a more fully developed studio. The company has already managed to set up TV, digital and film projects with the likes of CBS Films, Warner Bros. and the CW.
Describing itself as “a family office dedicated to mission and impact related investments to stem the gap between racial, social and economic inequalities,” 4sbay said its chief investment officer, Jim Casselberry, is now the interim CEO of Wayfarer.
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“I’m so proud of the content we’ve created at Wayfarer Entertainment over the past five years and I’m overjoyed by the impact our projects have brought to the world,” said Baldoni, the company’s chairman and co-founder. “Through our acquisition and the establishment of the content fund, we’re setting out to elevate our mission into the realm of premium television content, creating a next generation studio that will empower A-list creators, giving them a range of resources to share their stories with global audiences.”
Founded by Ahmed Musiol and Baldoni, Wayfarer’s slate emphasizes inspiration, unity, and what a press release called “the power of human connection.” Its social-good efforts have focused on female empowerment, racial unity, progressive masculinity, homelessness, and terminal illness.
In addition to film, TV and digital projects including My Last Days, Man Enough and Five Feet Apart, the company also has a full-service commercial department whose clients have included Metro PCS, Wells Fargo, Subaru, The Ad Council, Kellogg’s and Ford. It also established for the CW the philanthropy-focused broadcast platform CWGOOD.
Wayfarer Entertainment’s current executive team will remain in key roles, with Baldoni serving as Co-Chairman, Musiol as President, Farhoud Meybodi as EVP of Creative, and Brian Singer as Chief Financial Officer.
My Last Days, which centers on people with life-threatening illnesses, has won Clio and Webby awards and racked up 60 million online views. The show is returning to the linear airwaves in the spring for a fourth season on the CW.
In February, Wayfarer will begin production on a second season of Man Enough, the award-winning dinner conversation web series exploring traditional masculinity.
Five Feet Apart, directed and produced by Baldoni, will be released by CBS Films in March. It stars Cole Sprouse and Haley Lu Richardson. Baldoni’s feature followup, Clouds, has been greenlit for production in 2019 at Warner Bros.
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