A new report from Variety describes that indie film and TV studio A24 has explored a potential sale, and Apple is among the companies that have expressed interest. A24 is said to have a purchase price of between 2.5 and 3 billion dollars.
Apple and A24 have been working together on a number of different projects since the launch of Apple TV +, including movies like On the rocks and Boys State. The two are currently working together in the form of a multi-year agreement that was entered into for the first time in 2018.
The report today from Variety indicates that Apple and A24 recently held talks on a potential acquisition. Since the A24 has recently begun exploring a potential sale, Apple is among those interested:
Possible scenarios for a deal have included merging with stand-alone players or a direct absorption of a technology giant. A24̵7;s tires were kicked by Apple, with whom it signed a multi-year film slate agreement in 2018 that has given titles such as Sofia Coppola’s “On the Rocks.” Although some sources said that the Apple acquisition negotiations took place closer to the slate message, two other insiders said that the talks were much newer.
The report goes on to detail that while A24 also has an agreement with Showtime at the moment, the agreement with Amazon ended recently. This “may be attractive to technical companies that want exclusivity for subscribers,” the report explains.
Whether the relationship between Apple and A24 will ever develop beyond the current film agreement remains to be seen. Apple is said to have explored a number of possible media acquisitions over the years, including MGM, which was eventually acquired by Amazon, Time Warner, eventually acquired by AT&T and others.
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