RedBird Clinches Deal to Become Lead Investor in Puck

RedBird Capital Partners has signed a deal to acquire a majority stake in Puck, valuing the five-year-old media company at $250 million. RedBird, led by managing partner Gerry Cardinale, is also a backer of other media entities, including the Paramount Skydance merger bid for Warner Bros. Discovery. Puck founder Jon Kelly informed staff on Thursday that this investment from RedBird does not change the editorial independence of the media-biz outfit as it transitions to new ownership.