Sure, several celebrities have their own production companies nowadays. But only a few can compare to Brad Pitt’s Plan B Entertainment. The company has been known for producing several critically acclaimed films to date, some of which happen to be Oscar nominees and winners too.And so, it may come as a surprise for many to learn that Pitt is looking to put his production company up for sale. Why would he consider making this move and why now?
Plan B Entertainment Prides Itself For Being ‘Real Lovers Of Stories’
Ever since Pitt launched Plan B back in 2001 along with then-wife Jennifer Aniston and the late Hollywood mogul Brad Grey, the company has been on a roll. When it started, Plan B had a deal with Paramount where it produced films such as The Time Traveler’s Wife, The Tree of Life, and the Pitt-starrer World War Z.
And after Plan B went separate ways with Paramount at the end of 2013, the company pursued projects across various genres with Pitt serving as president and day-to-day operations being run by co-presidents Dede Gardner and Jeremy Kleiner.
And while Oscar winner may not be hands-on all the time, it’s his philosophy of finding stories that are “narratively driven” that has always guided the company. “We are real lovers of stories, and that’s been the singular guidepost since the very beginning,” Gardner said.
Over Time, Plan B Entertainment Produced These Critically Acclaimed Films
Perhaps, one of Plan B’s biggest gambles had been Steve McQueen’s 12 Years a Slave, which went on to win three Academy Awards. The film tells the true story of Solomon Northup, a black free man in New York who is kidnapped and sold into slavery.
The cast includes Chiwetel Ejiofor (who plays Northup), Lupita Nyong'o, and Michael Fassbender. Nyong’o would go on to win her first Oscar for her performance in the movie.
Pitt himself also stars in the film as a Canadian carpenter who becomes friends with Northup but it’s really his role behind the scenes that earned him more praise this time around.
“I think the truth is we wouldn't have been able to make this film without Brad Pitt, because of what he brings,” Ejiofor said at the premiere. “He's a movie star. He's a huge figure in this profession, in this industry.”
Over the years, Plan B Entertainment also went on to produce critically acclaimed films such as The Big Short, The Departed, Selma, If Beale Street Could Talk, Ad Astra, the Netflix action adventure Okja, the Oscar winner Vice, and of course, the three-time Oscar winner Moonlight, which includes star Mahershala Ali’s second Oscar win.
More recently, Plan B was also behind the NC-17-rated Netflix film Blonde, which stars Ana de Armas as Marilyn Monroe.
At the same time, the company has also undertaken selected tv projects over the years. These include the Emmy-nominated HBO limited series The Normal Heart as well as the Emmy-winning FX miniseries Feud, which stars Jessica Lange and Susan Sarandon.
The company is also behind the 2013 documentary Big Men, which explored the oil industry in Ghana and Nigeria, along with the surrounding corruption.
Why Is Brad Pitt Putting Up Plan B Entertainment For Sale?
With a production company as successful as Plan B, some find it hard to imagine that Pitt would give it all up so easily and put it on the market. But that’s exactly what just happened. The Oscar winner is exploring the sale of his company with global investment bank Moelis & Co. shopping it to possible investors.
Exactly why would Pitt do this? Well, chances are he’s not doing it for the money. Pitt’s net worth is estimated to be over $300 million. Plus, he has other businesses, including the Château Miraval winery he once shared with ex-wife Angelina Jolie and his new skincare line La Domaine.
It seems that the actor is exploring the possibility of selling simply because it might be the right time for his company, as suggested by Carlos Jimenez who is overseeing Pitt’s deal under Moelis & Co. During a recent M&A panel at TheWrap’s annual The Grill event, he explained that his company’s goal is to “really to find where the opportunities are is where there is disruption is creating an opportunity.”
He also added, “So it’s finding those talented managers, the solid business plans that are giving capital looking to this period of time versus sit back and watch what their peers are doing.” That said, Pitt may have been watching what his peers had been doing this whole time.
As some may recall, Reese Witherspoon sold her production company, Hello Sunshine, to private-equity firm Blackstone Group Inc. in 2021, although she and CEO Sarah Harden would continue to run its day-to-day operations.
That deal is said to be worth around $900 million. Perhaps, Pitt is looking for a similar arrangement too.
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