Prolific international content studio Mediawan is in advanced negotiations to acquire Peter Chernin‘s North Road Company, multiple sources told Variety. The intention behind the deal is to combine both operations and create a hulking independent production force to serve global markets.
Chernin, a longtime media investor and former chairman of Fox, and his assets have been bandied about in the rampant mergers and acquisitions craze that has consumed Hollywood in recent years. His goldilocks moment seems to have arrived in Mediawan, the French studio that’s been quietly building a strong portfolio through equity investments in companies like Brad Pitt’s Plan B (“Adolescence,” “F1”) and the British shop See-Saw (“Slow Horses”).
Financials surrounding the pending deal were not immediately known, though insider’s pegged North Road’s valuation at north of $500 million. A timeline for the transaction close was vague, though two individuals familiar with the deal said the deal would be papered in the coming weeks. Mediawan and The North Road Company had no comment on the matter.
North Road is comprised of numerous labels, including: Chernin Entertainment, Kinetic, Perro Azul, Omaha and Words + Pictures. The Chernin banner is responsible for hits like Academy Award-nominated features “Ford v Ferrari,” “Hidden Figures,” and “The Greatest Showman,” as well as “Spy,” “The Heat,” and the “Planet of the Apes” franchise. The company also most recently produced “Back in Action,” one of Netflix’s biggest movie debuts in years, the “Fear Street” trilogy, “Slumberland,” and “Luther: The Fallen Sun,” all with Netflix. They recently signed a new multi-yea first-look film deal with Apple TV+. Upcoming series include “Age of Innocence” and “Man on Fire,” both for Netflix.
North Road was formally established in 2022 by Peter Chernin. In addition to Chernin, it counts Kinetic Content, the top reality production company led by Chris Coelen, creator of “Love Is Blind,” and Words + Pictures (led by Connor Schell). Since its launch, North Road has expanded its portfolio with the creation of an independent scripted television studio led by Amy Israel and acquisitions of Little Rooms Films (established by Jason Hehir), the Turkish production company Karga Seven, and the Mexican production company Perro Azul. North Road is also a strategic investor in notable ventures, including Peyton Manning’s Omaha Productions, Questlove and Black Thought’s Two One Five Entertainment, NBA star Chris Paul’s Ohh Dip!!! Productions, and GenAI content studio, Promise.
Mediawan was founded in 2015 by Pierre-Antoine, French telecom billionaire Xavier Niel and financier Matthieu Pigasse. More to come …