Will Smith and Jada Pinkett Smith sell media company stake to ex-Disney execs

Will Smith and Jada Pinkett Smith have reportedly sold a minority stake in their media company, Westbrook, to former Disney executives Tom Staggs and Kevin Mayer.

Westbrook — which produces Netflix’s hit series “Cobra Kai” and which backed “King Richard,” the biopic starring Will Smith as Richard Williams, the father of tennis stars Venus and Serena Williams — had been in talks with Staggs and Mayer until the deal fell apart in October.

Sources told Variety that Staggs and Mayer’s venture paid $60 million for a roughly 10% ownership stake. The deal values the company at just under $600 million.

Mayer and Staggs are being financed by private-equity giant Blackstone Group. Their media venture made headlines last year when it purchased Reese Witherspoon’s production company Hello Sunshine in a deal valued at $900 million and followed that up with a $3 billion deal for Moonbug Entertainment, the children’s TV company behind “CoComelon” and “Blippi.”

Will Smith and Jada Pinkett Smith
Will Smith and Jada Pinkett Smith had been in talks to sell a minority stake in Westbrook late last year.
FilmMagic

Westbrook Inc. is comprised of a production studio, Westbrook Studios, and a digital arm, Westbrook Media. Upcoming projects for the company include the action film “Emancipation,” which will appear on Apple TV+ and star Will Smith, as well as the “Fresh Prince” reboot “Bel-Air’ that will premiere next month on Peacock.

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