Brad Pitt has reportedly filed a lawsuit against ex-wife Angelina Jolie after she sold her share of their French winery to a Russian company.MORE: Angelina Jolie looks identical to daughter Shiloh in stunning new photoThe Oscar-winning actor alleges in documents seen by People magazine that Angelina, 46, sold her share in Quimicum, the company that owns and controls Chateau Miraval, "despite their prior agreement that neither would do so unless the other person approved".WATCH: Angelina Jolie and Brad Pitt continue to fight on in custody battleThe claim states that the business served as Brad's "profitable passion" and that Angelina sold her interests in the property to Tenute del Mondo, whose parent company is spirits manufacturer Stoli Group, despite owing Brad's company, Mondo Bongo, the right of first refusal.He is now suing for tortious interference with contractual relations, breach of implied-in-fact contract, breach of quasi-contract pleaded in the alternative, breach of implied covenant of good faith and fair dealing, and constructive trust.MORE: Angelina Jolie reveals why divorce from Brad Pitt affected her career He is asking for damages and for the sale to be reversed.In October 2021 Angelina was cleared to sell her shares to a third party after she asked a California court to allow the sale to go ahead despite the fact that they were still finalizing divorce proceedings.
Legendary Sells Minority Stake To Apollo For $760M, Regains Control As Wanda Pares Position
01.02.2022 - 00:41 / deadline.com
Legendary Entertainment, the production company behind film franchises like Dune and Enola Holmes, has sold a minority stake to the private equity firm Apollo for $760 million.
Under the deal, Legendary management will regain operational, strategic and creative control of the company. Chinese giant Dailan Wanda will reduce its ownership position while remaining majority shareholder.
In an interview with Deadline, Legendary CEO Josh Grode declined to provide a valuation for Legendary, saying the transaction did not center on it. The exact percentage owned by Apollo was also not quantified, but was described in the official announcement as “significant.” Wanda bought Legendary for $3.5 billion in 2016.
Grode has described fielding multiple inbound offers in recent months and said several scenarios were considered, including a full takeover or participation in a deal with a special-purpose acquisition company, or SPAC. The media and entertainment sector has benefited seen a surge of investment of late, much of it private equity, aimed at capitalizing on the streaming boom and the hunger for content. Against a backdrop of corporate M&A, and mergers pending between Discovery and WarnerMedia, and Amazon and MGM, Reese Witherspoon’s Hello Sunshine and CoComelon producer Moonbug Entertainment have landed deals. Dozens of other entities are said to be in play.
The minority investment comes after Legendary had its most profitable year to date in 2021, the company said in announcing the transaction. It is ramping up production on a number of new film and TV projects, in the U.S. and globally.
Legendary was founded in 2004 by billionaire Thomas Tull, who left the company in 2017 after selling control of the firm to Wanda.
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