Blackstone-Backed Disney Vets Said Close to Buying ‘Fauda’ Team

(Bloomberg) -- Former Walt Disney Co. executives Kevin Mayer and Tom Staggs are close to acquiring Israeli TV producer Faraway Road Productions, according to people familiar with the transaction, part of a plan to supply the booming streaming-video industry with more shows.

The pair are building a new media company with funds from money manager Blackstone Inc. The purchase price is less than $50 million, one of the people said.

With the deal, the veteran entertainment executives are tapping one of the most fertile territories for original series in recent years. Faraway was founded by actor Lior Raz and writer Avi Issacharoff, two members of a growing community of Israeli writer-producers who’ve found success in the global TV market.

Raz and Issacharoff created “Fauda,” an Israeli military drama that became a global hit when Netflix Inc. picked up the rights. They also created “Hit & Run,” a thriller that debuted on Netflix earlier this year. They have an overall deal with the streaming service.

The purchase is the latest in a spree of deals by Mayer and Staggs. The two acquired actress Reese Witherspoon’s production company, Hello Sunshine, as well as Moonbug Entertainment Ltd., a company known for creating preschool videos for YouTube.

The former Disney executives have been looking to buy film, TV and online businesses in which the creative executives will stick around to continue manage them. In exchange, they receive ownership of the combined enterprise. 

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