Mathew Knowles Sells Music World Entertainment Group To APX Capital, Plots ‘King Richard’-Style Biopic As Part Of $275M Film & TV Fund
deadline.comEXCLUSIVE: Mathew Knowles, father of Beyoncé and former manager of Destiny’s Child, is gearing up for his own King Richard-style origin story as part of a wide-ranging deal with investment fund APX Capital Group.The media fund has acquired Knowles’ Music World Entertainment Group and will merge its film and TV division within APX Capital Group.
Knowles will manage this new division, which will be responsible for a €250M (US$275M) fund for film and TV co-productions between the U.S.
and Italy.One of the first projects that is set to come out of the deal is The Mathew Knowles Story, which will trace his story of how he helped his daughters become the global superstars that they are today and how he managed both Destiny’s Child and the solo careers of Beyoncé and Solange as well as Michelle Williams and Kelly Rowland.Knowles has evidently been buoyed by the success of King Richard, the story of Richard Williams, the father and coach of Venus and Serena Williams, starring Will Smith in the title role.As part of the deal, the company will own 10,000 hours of footage depicting the history of the Knowles family in the music industry through never-before-seen images, videos and music.He will also develop, finance and produce a range of diverse content across feature films, scripted series and documentaries.
Knowles will exec produce alongside Baram, Wiesenthal, and Pelliccia.APX Capital Group, which takes advantage of Italy’s tax credit program, was launched by Yona Wiesenthal, former CEO of the Israel Broadcast Authority and content chief at Israeli DBS platform YES and Augusto Pelliccia, Italian film financier and CEO of Augustus Group, with New York real estate entrepreneur Noam Baram as an equity partner in North America.Kno
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