Marvista has secured a significant investment that CEO Fernando Szew tells TBIvision will allow the LA-based producer and distributor to double its production output and ramp up its sales business.
Szew will remain the largest shareholder in the company after the cash injection from an investor group headed by Brian N. Sheth, the co-founder of Vista Capital. The deal also sees Marvista founding partner Michael Jacobs leave at the end of the year.
Marvista has not quantified the investment from Seth’s group, but Szew told TBIvision that the extra capital will allow the company to staff up as it increases the number of hours it produces and coproduces.
Robyn Snyder has been upped to executive VP, production, reporting to Szew and Sharon Bordas has been recruited as VP, development and production. She has previously developed shows for US cable nets Teen Nick and SOAPnet. Marvista also recently hired Stephanie Slack from Fox as chief of coproductions and acquisitions and is expected to make other hires.
“Since founding the Company in 2003, we have seen incredible growth at MarVista as we expanded beyond our initial third party distribution operation. With our new team in place and our new investors, led by Brian N. Sheth, we are poised to reach a new level of growth and to continue our commitment to producing quality content,” Szew said.