By Dawn Chmielewski

(Reuters) – Blackstone-backed Candle Media is buying Faraway Road Productions, the Israeli studio behind popular Netflix (NASDAQ:) series “Fauda” and the upcoming feature film “Siege of Bethlehem,” continuing a media industry buying binge, Blackstone (NYSE:) said on Tuesday.

The terms of the deal were not made public. According to one person, the purchase was worth less than $50 million.

Blackstone, a private equity firm, is making another major bet in streaming media and has a voracious appetite to find new content that will attract more subscribers.

Faraway Road Productions is the latest in a series of acquisitions by the Blackstone-backed media company, which include taking a majority stake in Reese Witherspoon’s media company, Hello Sunshine, investing in Will and Jada Pinkett Smith’s production company, Westbrook, and acquiring children’s entertainment studio Moonbug.

Candle Media’s executives Kevin Mayer (left) and Tom Staggs (right), were both once Walton officials. Disney (NYSE:) Co executives, described the acquisition of the studio, founded by “Fauda” creators, Lior Raz and Avi Issacharoff, as another in a series of deals that invest in distinctive storytellers.

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