A24 has a scrappy vibe, edgy tastes, and is often cited as the standard bearer of a 21st century indie film studio (much to their competitors’ annoyance).
Rumors of a possible sale have trailed the distributor for months, including tire kicking by Apple; in 2018, Apple and A24 made a nonexclusive “multiyear deal” for a slate of films.However, when Variety reported that the eight-year-old A24 was exploring a sale, with Apple expressing interest, the price tag was a shock: $2.5 billion-$3 billion? For an eight-year-old company and its biggest hit is “Hereditary”? (It grossed $80 million worldwide.) Understanding how that could be possible says more about the chaotic state of the entertainment industry, and its new-Hollywood tech overlords, than it does about the company itself.Consolidation is hot.
Amazon will pay $8.45 billion for MGM.
Apple reportedly is considering the acquisition of Reese Witherspoon’s Hello Sunshine production company for up to $1 billion.
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