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.
Read more: Yadabuzz
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.