Mathew Knowles sells Music World Entertainment Group to APX Capital, plots ‘King Richard’-style biopic as part of $275 million film and TV fund
EXCLUSIVE: Mathew Knowles, father of Beyoncé and former manager of Destiny’s Child, prepares his own King Richard-style origin story as part of a large-scale agreement with the investment fund APX Capital Group.
The media fund has acquired Knowles’ Music World Entertainment group and will merge its film and television division into the APX Capital group. Knowles will manage this new division, which will be responsible for a 250 million euro ($275 million) fund for film and television co-productions between the United States and Italy.
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One of the first projects expected to come out of the deal is The story of Mathew Knowles, which will trace his story of how he helped his daughters become the global superstars they are today and how he handled both Destiny’s Child and the solo careers of Beyoncé and Solange as well as Michelle Williams and Kelly Rowland.
Knowles was obviously spurred on by the success of King Richardthe story of Richard Williams, the father and trainer of Venus and Serena Williams, with Will Smith in the title role.
As part of the deal, the company will own 10,000 hours of footage illustrating the Knowles family’s history in the music industry through never-before-seen footage, video and music.
It will also develop, finance and produce a range of diverse content across feature films, scripted series and documentaries. Knowles will produce alongside Baram, Wiesenthal and Pelliccia.
APX Capital Group, which takes advantage of Italy’s tax credit scheme, was started by Yona Wiesenthal, former CEO of the Israel Broadcasting Authority and head of content at Israel’s DBS YES platform and Augusto Pelliccia, an Italian financier and CEO of ‘Augustus Group, with New York real estate entrepreneur Noam Baram as a North American equity partner.
Knowles will immediately join APX’s board and the funding structure will be streamlined through APX’s Italian subsidiary, MMF Global Italia. This is APX’s latest deal after a decision to fund several films by Kees Kassander and Peter Greenaway.
Knowles said the partnership marked an “important” moment for her business and her career.
“The decision to partner with APX Capital Group is well made and aligns with Music World Entertainment Group’s intention to expand its film and television portfolio. Through this unique collaboration and as head of this new division under APX, I will be able to share my life story by combining compelling storytelling with access to exceptional talent and music that will entertain and highlight cultural awareness. which is now more than necessary. never. This is the story of my life, and I am honored to be able to pass it on even further through this alliance.
“Matthew’s unparalleled career in the industry is shaped by his expertise in organizational culture, ethical leadership and activism. We are extremely honored to partner with him in bringing attention to his personal stories and the important cultural topics that define our shared experience,” added Noam Baram, Co-CEO and Head of North America for APX Capital Group. . “These stories will encourage us all to look at our history, respect each other’s points of view, and learn to coexist in a diverse world united by universal human values.”
“We are beyond thrilled to enter into this groundbreaking agreement with Mathew and his team to develop impactful content told through the voice of one of the most successful and insightful entrepreneurs in entertainment today,” said Yona Wiesenthal, co-CEO of APX Capital Group.
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