A24 is considered one of the best studios in Hollywood today with many including myself view it as the MCU for cinephiles. With that being said, Variety has first reported that the studio recently explored a possible sale, with the indie film studio floating an asking price of between $2.5 billion to $3 billion.
Sources told Variety that the studio has engaged with numerous potential suitors for more than 18 months. It’s unclear if those discussions continue to be ongoing. Sources close to A24 said the company is focused on expansion and is not prioritizing a sale.
Initially, the $2.5 billion-plus price tag drew some skepticism, but the media landscape has changed dramatically in just the past 12 months due to the COVID-19 pandemic.
The source added,
This is not the first time A24 has been out in the market looking for capital and potential partnerships. Following the success of “Moonlight,” which won the Oscar in 2016 for best picture, the company engaged in a roadshow with some of the major studios, one knowledgeable source said, seeking significant financing and some form of joint venture. Talks ended quickly as A24 was unwilling to offer any equity in their business.
