The company, which produces the popular “Red Table Talk” on Facebook Watch and is backing the upcoming “King Richard,” is in negotiations to sell itself to the unnamed media venture run by former Walt Disney Co. executives Kevin Mayer and Tom Staggs, Variety has confirmed. It would be the second high-profile acquisition by Mayer and Staggs, who are being financed by private-equity giant Blackstone Group. It follows their purchase of Reese Witherspoon’s Hello Sunshine, which they bought in August in a deal valued at $900 million.
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It’s unclear if Westbrook will fetch as high a price, but it seems unlikely given that it is only two years old and doesn’t have as established a track record of hits (although critics griped the pair overpaid for Hello Sunshine). Mayer and Staggs are looking at other media companies, with the likes of Imagine reportedly on their radar. It’s a boom time for studios and production houses, with Legendary and A24 also attracting attention from potential buyers who are looking to cash in on the insatiable demand for content from streaming services like Netflix, HBO Max, Disney Plus and others.
Westbrook also produces the popular streaming series “Cobra Kai.” “King Richard” received rapturous reviews when it premiered in Telluride and is expected to be an awards contender. Smith and Pinkett Smith are two of the biggest stars in the world and boast passionate social media followings. A deal could still fall apart.
A spokesperson for Westbrook declined to comment.
The Hollywood Reporter first reported that talks were taking place.
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