Mark Cuban When Todd Wagner‘NS Magnolia Pictures We hired investment bank Stevens to consider selling the company.
Content is currently in high demand, and Magnolia, a leading independent film distributor for 20 years, has a rich library of about 500 titles.
“We went through this process 8-10 years ago and didn’t sell at the time. We may not sell this time. But this time the climate is harsh and we are doing very well. “President and co-founder Amon Bowls Announce Deadline — Libraries throw away more cash than ever before, including during a pandemic. “These 10-year-old films are made more than in the third year,” he said.
Transactions follow the connection between Amazon-MGM (still pending) and the acquisition of Reese Witherspoon’s media company Hello Sunshine A group backed by the new Blackstone, led by Kevin Mayer and Tom Stags, is said to total about $ 900 million.The duo is of Will and Jada Pinkett Smith Westbrook..LeBron James Company Spring hill It is said that he was aiming for a partnership with Redbird Capital.
“The current climate is being thrown out in large numbers. It’s ridiculous not to find out what the market will bear now,” Bowles said. He refused to speculate on the potential purchase price, but confirmed that Magnolia’s revenue in 2020 was about $ 30 million, which could reach $ 40 million this year.
Indie players are part of a larger restructuring of the entertainment landscape. Discovery is in the process of being integrated with WarnerMedia. Lionsgate CEO says the company is open to trading. The AMC Networks, which the CEO and COO recently announced their resignation, are generally considered to be heading for something. And transaction rumors continue to plague ViacomCBS and Comcast.
Cuba and Wagner acquired Magnolia in 2003 along with landmarks in the art house cinema chain. In 2018, we sold the landmark to the Cohen Media Group. In the meantime, Cuba publicly tested the waters for the sale of magnolia and landmarks at least once in 2011, after which the prices had to be very convincing. In effect, Magnolia owners have been accepting offers for some time.
Founded in 2001 by Bowles and Bill Banowsky, Magnolia is known for its documents: Blackfish, I’m not your black man When Catch Friedman..Recent releases include Sundance Selection Mayday, Cryptozoo Yakuzahime, Swan Song When Mandible.. However, it was a difficult time for the specialty film and art house markets, as its major old demos were slow to return to the post-covid theater.
Magnet Release is a genre division of Magnolia Pictures that specializes in horror, action, comedy and Asian films.
Magnolia is currently under 2929 Entertainment in Cuba and Wagner, and 2929 Productions is another company that develops, raises funds and produces films.
Banker recruitment was first reported today in the NYT’s DealBook column.
Magnolia Pictures Hires Investment Bank to Consider Selling – Deadline
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