Funko sells 25% stake to a group including Bob Iger, Rich Paul and eBay.

A consortium including former Disney CEO Bob Iger, sports agent Rich Paul, eBay and the Chernin Group is buying a 25% stake in toy maker Funko.

The $263 million investment, or $21 a share, means Chernin will add two directors to Funko’s board of directors. Chernin Group CEO Peter Chernin and Eiger will serve as advisors to the board of directors.

Funko shares were initially halted due to the news but have since resumed after-hours trading, jumping more than 20% to around $21 a share.

“We believe that Funko is significantly undervalued in the public markets and this very attractive entry price provides a runway of opportunity and upside potential,” Chernin said in a statement Thursday. “There are many areas of notable growth in content, commerce, marketplaces, consumer products, and technology that should result in a substantial increase in Funko’s performance.”

In addition to his investment business, Chernin produces television and films through Chernin Entertainment, which has launched titles such as The New Girl, Hidden Figures, The Greatest Showman and Ford v Ferrari. Previously, he was president and chief operating officer of News Corp and chairman and chief executive officer of the Fox Group, where he helped green-light Titanic and Avatar, two of the highest-grossing films of all time.

Iger is well known in the entertainment industry for leading Disney’s acquisition of Pixar, Marvel, Lucasfilm and, most recently, 20th Century Fox. Many characters from these brands’ franchises can be found in the Funko product line.

Paul, CEO and founder of Klutch Sports Group and head of the sports department of the United Talent Agency, is expected to share his experience in sports and music to help promote Funko’s products in these areas. He represents LeBron James.

As part of the investment, eBay and Funko agreed to make eBay the preferred aftermarket for Funko products. They will also team up to release exclusive products.

This is breaking news. Please stay tuned for updates.

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