Two insiders who have knowledge of the situation claim that Plan B Entertainment is looking for a buyer.
The banner has tapped the global investment bank Moelis & Co. to shop for a buyer or potential investors. The deal is being led by Carlos Jimenez of Moelis & Co., who appeared on the M&A panel at ’s annual “The Grill”Event on Wednesday
Jimenez said he is seeing some clients hesitating to jump into new M&A deals in light of a struggling economy, as well as Hollywood’s own slowdown in the streaming boom as evidenced by Netflix’ recent loss of subscribers.
Jimenez suggests that the time is now to seize the chance. He said his company’s job is not to sit on the sidelines for six months waiting for economic change but to “really to find where the opportunities are is where there is disruption is creating an opportunity. So it’s finding those talented managers, the solid business plans that are giving capital looking to this period of time versus sit back and watch what their peers are doing.”
Plan B Entertainment was established in 2002 by Brad Pitt with Dede Gardner and Jeremy Kleiner as co-presidents. It has produced high-quality, award-winning TV and film productions. The company currently has a deal in place with MGM to produce feature films and a first-look agreement for TV with Amazon Studios.
Plan B’s film credits include “The Departed,” “Charlie and the Chocolate Factory,” “The Time Traveler’s Wife,” “Eat, Pray, Love,” “The Tree of Life,” “Moneyball,” “World War Z,” “12 Years a Slave,” “Selma,” “The Big Short,” “Moonlight,” “Okja,” “Beautiful Boy,” “If Beale Street Could Talk,” “Vice”And most recently: “The Last Black Man in San Francisco,” “Ad Astra”And “The King.”
Naturally “The Departed,” “12 Years a Slave”And “Moonlight”Academy Award Best Picture nominees. The production company’s other films, like “Selma,” “Vice”And “If Beale Street Could Talk,”Nominated Oscars
Plan B recently produced the “Father of the Bride”The remake became a streaming success on HBO Max with “Blonde,”This premiered on Netflix, and it is considered a contender for the Ana de Armas award.
The Wall Street JournalFirst reported the news.
Reps for Plan B did not respond to ’s request for comment.
Diane Haithman contributed to the report.