A group of entertainment heavyweights that includes Peter Chernin and former Walt Disney Co. Chairman Bob Iger is investing $263 million in toymaker Funko Inc.
The Chernin Group leads an investment consortium that is buying a 25% stake in Funko for $21 a share, a 23% premium over the closing price on May 3, the day the agreement was reached. The shares are being acquired from Acon Investments. Along with the new stake, the investors will designate two directors, and Chernin and Iger will serve as advisers to the board.
