Westbrook Inc. of Will Smith and Jada Pinkett Smith could become the latest celebrity-backed media company to secure a splash deal.
The company, which produces the popular “Red Table Talk” on Facebook Watch and supports the upcoming “King Richard”, is in talks to sell itself to an anonymous media venture led by former Walt Disney CEO Kevin Meyer and Tom Stags. Diversity Confirmed. This will be the second high-profile acquisition by Meyer and Stags, funded by private-equity giant Blackstone Group. This follows their purchase of Ridge Witherspoon’s Hello Sunshine, which they bought in August on a 900 million deal.
It is unclear whether Westbrook will get a higher price, but it seems unlikely that it is only two years old and has not established a track record of hits (although critics paid the pair extra for Hello Sunshine). As Mayer and Stags look at other media companies, Imagine’s choices are known to be on their radar. This is a great time for studios and production companies to draw attention from potential buyers, including Legends and A24, who want to cash in on the insatiable demand for streaming services like Netflix, HBO Max, Disney Plus and others.
The Hollywood Reporter first reported that the talks were ongoing.
Westbrook created the popular streaming series “Cobra Kai”. When “King Richard” premiered on Telluride and was expected to be an award contender, Smith and Pinkett Smith boasted two of the world’s biggest stars and passionate social media following. A deal can still be broken.
A spokesman for Westbrook declined to comment.