Brad Pitt’s Plan B Entertainment has closed a deal sell a majority stake to Mediawan, the pan-European media conglomerate.
The parties issued a press release confirming they had entered into a “definite agreement” for Mediawan to buy a “significant stake” in Plan B. Under the pact, which values the company over $300 million, Plan B is also taking a stake in Mediawan.
Plan B Entertainment, which is run by Brad Pitt and Dede Gardner, hired Moelis & Co. to shop for a buyer or potential investors in October. The banner was founded in 2001 by Pitt and Jennifer Aniston shortly after the pair married. Pitt eventually took over the banner after the two divorced in 2005. Its credits include “The Departed,” “Moonlight” and “12 Years a Slave,” all of which won the Oscar for best picture. The company recently produced “She Said,” a look at the journalists who broke the Harvey Weinstein story, as well as “Blonde,” an off-beat drama about Marilyn Monroe.