Private equity giants, including Apollo and Blackstone, are investing in Hollywood production companies as they look to reap the $115 billion annually that US streaming services pour into TV shows and movies.
Apollo last week bought a $760 million stake in Legendary, the Chinese-owned film studio DuneAnd GodzillaBlackstone has committed more than $2 billion to build a new production company led by former Disney executives. Centricus, a London-based fund, is said to be in talks to buy a majority stake in Imagine Entertainment, the production company behind shows like stunted development.
Candle has also acquired Moonbug Entertainment, the studio behind the successful children’s show cocumillonfor $3 billion, and bought a $60 million minority stake in Westbrook, Will Smith’s studio.
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