Brad Pitt’s Plan B Entertainment is selling a majority stake to Paris-based Mediawan, Deadline has confirmed, following news several months ago that the company was seeking a buyer.
There are no financial details on the transaction, which could be announced as early as this weekend.
The company, run by president Dede Gardner and co-president Jeremy Kleiner, recently produced She Said and its credits include The Departed, Moonlight and 12 Years a Slave.
Plan B had hired investment bank Moelis & Co. to explore options.
Mediawan owns a fleet of European production operations such as Lagardère Studios, Makever and the French TV division of EuropaCorp and has a majority of the UK’s Drama Republic through a deal struck through its Mediawan & Leonine Studios venture. It is best known as the company behind the producers of the original Call My Agent (Pour Dix Cent), although it doesn’t sell the rights internationally.
Its Mediawan Rights division recently launched a unique metaverse platform for buyers to access new catalog releases and connect with sales execs.
The current deal will be the latest in a string of high-profile production companies cashing in on the boom in content.
Kevin Mayer and Tom Staggs’ Blackstone-backed Candle Media kicked off a stream of deals, buying Hello Sunshine, Moonbug and Fauda producers Faraway Productions and a stake in Will Smith and Jada Pinkett Smith’s media company, Westbrook. Others include LeBron James’s SpringHill Company selling a big minority stake to a group of investors led by RedBird Capital.
CNBC was the first to report Plan B’s sale.