LONDON: American alternative investment management company Blackstone’s media company, Candle Media, has bought Faraway Road Productions, the company behind hit Israeli action show “Fauda.”

Reports suggest that the deal signed between Faraway Road’s Lior Raz and Avi Issacharoff, and Candle Media’s Tomm Staggs and Kevin Mayer, was completed for just under $50 million.

“Lior and Avi are world-class storytellers who produce exhilarating content that strikes a chord globally with audiences across cultures and languages,” Staggs and Mayer said in a statement.

“They are exactly the type of partners we and Blackstone are looking to invest behind — and we are excited to work with them to further accelerate Faraway Road’s growth trajectory.”

Apart from “Fauda,” which is set to air its third season, Faraway Road Productions is also home to Netflix’s “Hit and Run” which, while popular, was canceled after one season due to high production costs.

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