A new report from Variety says independent film and television studio A24 has explored a potential sale, and Apple is among the companies that has expressed interest. A24 is said to have an acquisition price of between $ 2.5 billion and $ 3 billion.
Apple and A24 have worked together on a variety of different projects since the inception of Apple TV +, including films such as On the rocks and State of the boys. The two are currently working together in the form of a multi-year agreement first reached in 2018.
Today’s report from Variety indicates that Apple and A24 recently discussed a possible acquisition. As A24 recently started exploring a potential sale, Apple is among those interested:
Possible scenarios for a deal include a merger with standalone players or outright absorption by a tech giant. The tires for the A24 were launched by Apple, with whom it signed a multi-year film contract in 2018 that resulted in titles like “On the Rocks” by Sofia Coppola. While some sources said the Apple acquisition talks took place closer to the listing announcement, two other insiders said the talks were much more recent.
The report goes on to state that while A24 also made a deal with Showtime, its deal with Amazon recently ended. This “could be attractive to tech companies looking for exclusivity for subscribers,” the report explains.
It remains to be seen whether the relationship between Apple and A24 will evolve beyond the current film deal. Apple has reportedly explored a variety of possible media acquisitions over the years, including MGM, which was ultimately acquired by Amazon, Time Warner, ultimately acquired by AT&T, and others.
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