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Craig Sjodin
Brad Pitt is selling 60% of his production company, Plan B Entertainment, to French media conglomerate Mediavan, with an announcement set to be made later this week, according to people familiar with the matter.
The deal, which has been signed, values Plan B in the hundreds of millions but less than $500 million, said the people, who asked not to be named because the discussions are private. Neither Plan B nor MediaOne responded to requests for comment.
Pitt, the Oscar-winning star of films such as “Once Upon a Time in Hollywood” and “Fight Club,” founded Plan B in 2001 with his ex-wife Jennifer Aniston and his then-manager Brad Gray, who died in 2017. Pitt became sole owner after he and Aniston divorced.
The production company has helped create both films and TV series over the past two decades, including Academy Award-winning films such as “The Departed” and “12 Years a Slave.” It has produced several films released this year, including Netflix “Blonde,” a fictional take on Marilyn Monroeand she said,” which details The New York Times’ investigation into sexual harassment in Hollywood.
For TV, Plan B productions include HBO’s 2014 adaptation “The Normal Heart” directed by Ryan Murphy And Amazon Prime Video’s 2021 miniseries “The Underground Railroad.”
Independent production studios have become hot acquisition properties as large media companies build their own streaming services. Last year, Reese Witherspoon sold majority stake in Hello Sunshine The deal for what would become Candle Media, founded by Disney veterans Kevin Mayer and Tom Staggs, valued the company at $900 million. candle media too Westbrook Inc., the production company founded by Will Smith and Jada Pinkett Smith earlier this year. acquired a minority stake in
Mediawan is a content studio that produces films and TV series in Europe and the US. It owns over 60 production labels and was co-founded by chairman Pierre Antoine-Captain.
Boutique Investment Bank Moelis Sales led for Plan B. A spokeswoman for Moelis declined to comment.
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