A24 Is a Prime Acquisition Target In a Buyer’s Market, So Who’s Interested? Maybe Apple, Maybe Not

A24 is riding high these days following the box office success of Lady Bird and the company’s Best Picture win for Moonlight. Multiple industry insiders tell the Tracking Board that A24 is on the block, and rumors are swirling around Hollywood that Apple has shown interest in acquiring the company.

While it’s purely speculative at this time, a deal would make perfect sense, since Apple is preparing to make a formidable entrance into Hollywood production, and it could use a library to build around. It would also put Apple in business with some of the world’s top filmmakers, plus A24 makes the kinds of films that would appeal to iTunes subscribers and other young cord cutters.

If a deal is, in fact, in the offing, A24 would find itself flush with cash and able to compete with major studios on top-tier packages from A-list filmmakers and talent. Of course, A24 insiders have downplayed those rumors, which is certainly understandable. But don’t forget that Apple already hosts the A24 podcast, so it already has a relationship with the company beyond simply selling (and renting out) its movies.

Meanwhile, multiple sources tell the Tracking Board that Amazon actually made an offer to buy A24 several months ago, but A24’s founders turned it down. Amazon (and other interested parties) have been reluctant to go any higher, for a variety of reasons that would be speculative to list.

While more than a dozen insiders say that an Apple deal would make the most sense for A24, none suggested anything was actually in the works. That said, some have speculated that John Hodges’ exit was tied to a potential sale, as Hodges was more of a TV guy, and Apple has that role covered, since it’s run by Jamie Erlicht and Zack Van Amburg, two former executives from Sony TV.

 Jeff Sneider | Editor in Chief