Entangled Publishing, the leading independent publisher of romance and romantasy books, has received a minority investment from the Chernin Group (TCG), an investment firm with a history of supporting growing content brands and entertainment platforms.
Entangled cofounder and CEO Liz Pelletier will retain majority ownership of the company and maintain full creative control over the publisher’s direction.
The Wall Street Journal reported that the deal values Entangled at $400 million.
Fueled by its publication of Rebecca Yarros’s Empyrean series, which includes global bestsellers Fourth Wing, Iron Flame, and Onyx Storm, Pelletier has grown Entangled’s publishing program while also expanding into different media channels.
According to the announcement, the new investment “accelerates Entangled’s evolution into a diversified media platform, leveraging TCG’s expertise in content, community, consumer products, gaming, live events, and franchise development.”
“Entangled has always championed stories that spark passionate reader fandoms” said Pelletier in a statement. “We’re already seeing our authors’ worlds thrive across multiple platforms, and this partnership allows us to scale that impact faster and smarter.”
Entangled currently has titles in development with Amazon MGM, Legendary Television, and NBCUniversal.
Earlier this year, Entangled announced joint ventures with Penguin Random House’s Michael-Joseph Books imprint in the U.K. and Bonnier’s Piper Verlag in Germany. In February, Entangled announced plans to launch two new young adult imprints, Mischief and Mayhem, creating what the publisher called “distinct lines for younger and more mature teens.” The imprints will debut in the U.S. and will also be incorporated into Entangled’s European joint ventures. The first title on the Mayhem list, Dragon Cursed by Elise Kova, will be published in January.
“Entangled is exactly the kind of media company we seek to support: one with deeply passionate audiences, clear opportunities to expand into new verticals, and a strong position at the leading edge of the cultural shifts reshaping media and entertainment,” said Julia Beilman, principal at TCG, in a statement.
TCG has also made investments in such media companies as Audiochuck, Barstool Sports, Hello Sunshine, Crunchyroll, and Exploding Kittens.
