Former CBS executive Jeff Sagansky plans to raise $500 million in an initial public offering to buy businesses in the entertainment industry.
Sagansky’s company, Double Eagle Acquisition Corp., priced 50,000 units in its offering that includes one Class A share and a warrant to purchase one half of one share. The shares and the warrants will trade on the NASDAQ Capital Market.
Double Eagle will be looking at opportunities in international TV, content that could be distributed over-the-top, intellectual property owners and agencies, and emerging new platforms.
Harry Sloan, former CEO of MGM, is a major founding investor in Double Eagle.