Apple is waist deep in the movie- and TV-making industries these days, and has working relationships with several different studios. One of those is an indie-darling known as A24, which Apple partnered up with in 2018. And it turns out Apple may have considered acquiring the studio at one point, too.
The timeline is a bit shady at the moment, but according to Variety Apple and A24 were holding discussions over a potential acquisition. The original report notes that Apple and A24 may have had these talks when the deal was first struck in 2018. However, some sources say A24 and Apple have been talking about an acquisition much more recently, too.
Interestingly, while the report indicates that A24 is investigating a sale, the report also says A24 is looking for expansion, rather than an outright sale. Which is why talk may still be going on. Variety says that talks have been going on for 18 months now. A24, the production company behind films like Uncut Gems and Moonlight, along with the Apple TV+ drama On the Rocks, is looking to sell (or expand with another company) for somewhere between $2.5 and $3 billion.
As a comparison, Amazon is going through the acquisition process to add MGM to its stable for over $8 billion.
Per the report:
Possible scenarios for a deal have included merging with standalone players or an outright absorption by a tech giant. A24’s tires were kicked by Apple, with whom it signed a multi-year film slate deal in 2018 that has yielded titles like Sofia Coppola’s ‘On the Rocks.’ Though some sources said the Apple acquisition talks happened closer to the slate announcement, two other insiders said talks were much more recent.
An acquisition of this nature would be a big win for Apple. Especially considering how well-liked A24 is within the industry. But considering Apple already has a partnership with the company, Apple might not be in a rush.