Who Owns Proxima Media?

Proxima Media is an investment firm focused on all things sports and entertainment. Who owns Proxima Media?

Rachel Curry - Author

Nov. 30 2020, Published 12:14 p.m. ET

Los Angeles-based media investment firm Proxima Media was in the news last year for its ownership-level investment in Triller — a TikTok rival. However, that isn't the only investment in Proxima's portfolio.

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Proxima Media, which was founded in 2017, focuses on sports and entertainment media. Today, the company is led by a high-key Hollywood figure and parent company.

ryan kavanaugh
Source: Getty Images
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Who owns Proxima Media?

Ryan Kavanaugh is a U.S. businessman who owns Proxima Media.   

Kavanaugh is also the former CEO of Relativity Media — a company known for being the third-largest mini-major studio until its bankruptcy in 2015. Through Relativity, Kavanaugh financed, produced, or distributed more than 200 films for a total of $20 billion in box office revenue and 60 Oscar nominations. In its heyday, Relativity was the 25th highest-grossing producer ever. Now, Kavanaugh and Proxima work to add to these metrics.

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Bobby Sarnevesht is another executive-level Proxima partner. On Nov. 24, Tuhin Roy announced that he is joining the Proxima Media team as the Operating Principal. Roy has a history in guiding companies toward their IPO.

Proxima has introduced its own cryptocurrency

Proxicoin is a cryptocurrency from Proxima. It's built using Ethereum blockchain technology and allows for fractional ownership of entertainment content (like films, TV, and music). 

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Kavanaugh first announced Proxicoin to the public in 2019. The cryptocurrency has been backed by venture capital firms Step Ventures and the Central Wealth Investment Fund of Hong Kong.

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Is Proxima Media publicly traded?

Proxima Media LLC isn't a publicly-traded company. The average investor can't put capital into the company, while preferred and private investors can.  

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proxima media publicly traded
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However, as an investment firm in its own right, Proxima enthusiasts can support the company by looking to its partners.

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How to find Proxima Media partners' stock

Proxima has a handful of high-profile partners including:

  • Triller: Proxima is a majority owner of Triller. Triller is still in fundraising mode. It has raised nearly $40 million in total (with Proxima lending $28 million).
  • Apple: Apple is the first publicly-traded company in U.S. history to hit a $2 trillion valuation. You can trade Apple stock through its ticker symbol "AAPL" on the Nasdaq exchange.
  • National Arts Studio: Proxima is a significant shareholder in this China studio, which trades on the Hong Kong Public Market.
  • Universal Media Group: UMG trades under the ticker symbol "UMGP" on the OTC.

Proxima also partners with Lambert Media Group and Centauri Media.

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What is Ryan Kavanaugh's net worth?

Prior to Relativity Media's Chapter 11 bankruptcy filing, Kavanaugh had a solid spot on Forbes' billionaire list. On July 30, 2015, the website dropped him off. Film and entertainment aren't Kavanaugh's only investments. He also has a hand in biotech, real estate, dog food, and video games. However, he has still seen his net worth drop drastically in the last half a decade despite this diversification.

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At 45 years old, Kavanaugh has an estimated net worth of $50 million.

On Nov. 28, Kavanaugh produced an event with former boxing champions Mike Tyson and Roy Jones Jr. The event wasn't a fight. It was an exhibition and knockdowns weren't welcome.


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