Skip to content
Subscriber Only

Funko Jumps on $263 Million Investment by Chernin, Bob Iger

  • Investor consortium is buying 25% stake in toy company
  • Shares get a pop of as much as 55% in extended trading
Funko Pop figures
Funko Pop figuresPhotographer: Robyn Beck/AFP/Getty Images
Updated on

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.