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Blackstone-backed agency buys stake in Will Smith and Jada Pinkett-Smith’s media firm

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A agency led by two former Walt Disney Co. executives has agreed to purchase a stake in Will Smith and Jada Pinkett-Smith’s media firm, individuals aware of the matter mentioned, the most recent in a sequence of high-profile acquisitions for the Blackstone Inc.-backed leisure enterprise.

The Blackstone
BX,
-1.33%
-backed agency, which has but to announce a reputation for itself and is run by former Disney
DIS,
-0.66%
executives Kevin Mayer and Tom Staggs, is paying about $60 million to accumulate greater than 10% of Westbrook Inc., the individuals mentioned.

Based in 2019, Westbrook’s tasks embrace “King Richard,” a biopic that chronicles the lifetime of Richard Williams, the daddy of tennis stars Venus and Serena Williams. Different tasks from Westbrook embrace the “Contemporary Prince of Bel-Air” reunion on HBO Max, “Crimson Desk Discuss,” a present on Fb Watch that includes Pinkett Smith, her daughter Willow Smith and her mom, Adrienne Banfield-Norris.

The Westbrook deal is the most recent in a sequence of acquisitions in latest months for Mayer and Staggs’s enterprise. In November, the agency mentioned it was shopping for Moonbug Leisure Ltd., the corporate behind hit kids’s exhibits “CoComelon” and “Blippi,” for about $3 billion. In August, it mentioned it was spending $900 million to accumulate Hiya Sunshine, the media firm based by Reese Witherspoon.

An expanded model of this report seems on WSJ.com.

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