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<ul class="summary-list"><li><keyword id="11915967" type="UNKNOWN" weightage="60" keywordseo="warren-buffett" source="Orion">Warren Buffett</keyword>'s great-nephew completed the acquisition of a private-hangar specialist this week.</li><li><keyword id="13037182" type="UNKNOWN" weightage="60" keywordseo="alex-buffett-rozek" source="Orion">Alex Buffett Rozek</keyword> praised <keyword id="13037184" type="UNKNOWN" weightage="60" keywordseo="sky-harbour" source="Orion">Sky Harbour</keyword>'s competitive advantages and management team.</li><li>Buffett and Rozek look for similar qualities in the businesses they buy.</li></ul>Warren Buffett's great-nephew appears to share the billionaire investor's taste in businesses, appetite for acquisitions, and <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-private-jet-plane-purchase-indefensible-indispensable-2021-10">passion for private jets</a>.Buffett's <a href="https://markets.businessinsider.com/stocks/brk-b-stock">Berkshire Hathaway</a> owns NetJets, which sells fractional ownership of private planes. Alex Buffett Rozek's <a href="https://markets.businessinsider.com/stocks/ysac-stock">Yellowstone Acquisition Company</a> completed its merger with Sky Harbour, which develops and leases private hangars for business and personal jets, <a href="https://www.businesswire.com/news/home/20220125006178/en/Yellowstone-Acquisition-Company-and-Sky-Harbour-LLC-Announce-Closing-of-Business-Combination">earlier this week</a>.Rozek is the grandson of Buffett's late sister, Doris. He runs a Berkshire-esque holding company named Boston Omaha, which has interests in advertising, insurance, and broadband internet.Rozek and his partner, Adam Peterson, <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-great-nephew-joins-spac-boom-raising-150-million-2020-10-1029710459">took Yellowstone public</a> as a special-purpose acquisition company (SPAC) in October 2020. Their goal was to find a high-quality business and merge with it, giving it a stock-market listing without the need for an initial public offering (IPO).The pair were partly drawn to Sky Harbour because they like infrastructure businesses, they said in a <a href="https://www.businesswire.com/news/home/20210802005439/en/Sky-Harbour-LLC-a-Developer-of-Private-Aviation-Infrastructure-to-Become-a-Public-Company-Through-a-Combination-with-Yellowstone-Acquisition-Company">press release</a> announcing the deal last August. They were also impressed by its cost advantages, scalability, executive team, and its sector's high barriers to entry.Several of Berkshire's businesses are involved in infrastructure, including the Burlington Northern railway and <keyword id="11915968" type="UNKNOWN" weightage="60" keywordseo="berkshire-hathaway" source="Orion">Berkshire Hathaway</keyword> Energy. Moreover, Buffett has repeatedly trumpeted the <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-dream-business-is-sees-candies-2019-7-1029916323">power of brands such as See's Candies</a> as "moats" to stave off competition, underlined Geico's lower costs relative to its peers, and emphasized the critical importance of management.It's clear that Buffett and Rozek share more than a bloodline. They're both drawn to businesses with physical operations instead of digital ones, and evaluate similar attributes when judging companies.However, Rozek may be having <a href="https://www.businessinsider.com/warren-buffett-80-billion-headache-dilemma-expensive-stocks-businesses-deals-2021-5?r=US&amp;IR=T">more luck on the dealmaking front than Buffett</a> because he's shopping for much smaller businesses, and seems less concerned about their profitability.Sky Harbour grew its revenue by 87% year-on-year to $784,000 in the first half of 2021, but a surge in its overheads and operating costs meant its net loss more than quadrupled to $4.8 million, <a href="https://www.sec.gov/Archives/edgar/data/0001823587/000143774921024148/ysac20211019_prem14a.htm#skybal">Securities and Exchange Commission filings show</a>.Read more: <a href="https://www.businessinsider.com/warren-buffett-berkshire-hathaway-apple-luxury-brands-stocks-experts-outlook-2022-1?IR=T&amp;r=US&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" target="_blank" rel="noopener">Warren Buffett is ready to deploy $80 billion if the market crashes this year. 7 experts say the investor should trim his Apple stake, acquire luxury brands, or buy some blue-chip stocks in the meantime.</a>

Warren Buffett's great-nephew just completed a SPAC deal. He clearly shares the billionaire investor's taste in businesses.

<ul><li>Warren Buffett's great-nephew took his "blank-check" company public on Thursday.</li><li><keyword id="10153316" type="UNKNOWN" weightage="60" keywordseo="alex-buffett-rozek">Alex Buffett Rozek</keyword>, the grandson of Warren's late sister Doris Buffett, is the co-CEO and co-chairman of <keyword id="10153314" type="UNKNOWN" weightage="60" keywordseo="boston-omaha-corporation">Boston Omaha Corporation</keyword>.</li><li>Boston Omaha formed <keyword id="10153315" type="UNKNOWN" weightage="60" keywordseo="yellowstone-acquisition-company">Yellowstone Acquisition Company</keyword>, a "<keyword id="1817616" type="ORGANIZATION" weightage="60" keywordseo="SPAC">SPAC</keyword>" or investment vehicle that raises money on public <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> to <keyword id="25455" type="ORGANIZATION" weightage="60" keywordseo="finance">finance</keyword> a future acquisition, and hopes to raise $150 million from its market debut.</li><li>Rozek and his business partner will use the funds to target a company in the homebuilding, homebuilding-related manufacturing, financial services, or commercial real estate industries.</li><li><a href="https://www.businessinsider.com/international">Visit Business Insider's homepage for more stories</a>.</li></ul>Warren Buffett's great-nephew took his "blank-check" company public on Thursday, joining the likes of billionaire investors <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-spac-psth-pershing-tontine-targets-buy-blank-check-2020-10-1029665772#">Bill Ackman</a> and <a href="https://markets.businessinsider.com/news/stocks/social-capital-spac-ipoc-clover-health-deal-chamath-palihapitiya-merger-2020-10-1029652323">Chamath Palihapitiya</a> in raising money to make a future, as-yet-unknown acquisition.Alex Buffett Rozek, the grandson of Warren's late sister Doris Buffett, is the co-chairman and co-CEO of <a href="https://markets.businessinsider.com/stocks/bomn-stock">Boston Omaha Corporation</a>. Boston Omaha is a holding company with some similarities to Buffett's <a href="https://markets.businessinsider.com/stocks/brk-b-stock">Berkshire Hathaway</a> conglomerate, as it has business interests across the advertising, insurance, and broadband-internet industries.Read More: <a href="https://www.businessinsider.com/investing-trading-strategy-jim-rogers-8-rules-for-big-returns-2020-10" target="_blank" rel="noopener noreferrer">Market wizard Jim Rogers started trading with $600 and now has a reported net worth of $300 million. He shares the 8 trading rules that ensured his success.</a>Boston Omaha formed Yellowstone Acquisition Company — a special-purpose acquisition company or "SPAC" — and filed to take it public in early September. It initially hoped to raise $200 million, but ultimately cut its target to $150 million. Yellowstone's shares <a href="https://www.sec.gov/Archives/edgar/data/1823587/000121390020032428/0001213900-20-032428-index.htm">began trading on Thursday</a>.Rozek and his co-chairman and co-CEO, Adam Peterson, plan to use the listing proceeds to acquire a business in the homebuilding, homebuilding-related manufacturing, financial services, or commercial real estate industries.The pair may be seeking to emulate Rozek's great-uncle, who has made scores of lucrative deals during his career. Some of the Berkshire chief's most famous ones include his <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-goldman-sachs-sale-billions-return-bailout-2020-5-1029212109#">bailouts of Goldman Sachs</a>, <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-invested-3-billion-general-electric-ge-2008-crisis-2020-6-1029327040#">General Electric</a>, and <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-invested-5-billion-bank-of-america-made-fortune-2020-10-1029690339#:~:text=to%20BI%20Prime-,Warren%20Buffett%20plowed%20%245%20billion%20into%20Bank%20of%20America%20during,a%20fortune%20in%20the%20process.&amp;text=Warren%20Buffett%20invested%20%245%20billion,cushion%20to%20the%20struggling%20lender.der.">Bank of America</a>, and his <a href="https://www.businessinsider.com/berkshire-hathaway-to-buy-precision-castparts-2015-8">$37 billion takeover of Precision Castparts</a>.Read More: <a href="https://www.businessinsider.com/stock-picks-to-buy-61-companies-upside-earnings-2021-ms-2020-10" target="_blank" rel="noopener noreferrer">MORGAN STANLEY: Buy these 61 stocks that will offer major earnings-driven upside following an imminent 10% market sell-off</a>Doris, Rozek's grandmother, is best known for dealing with the stream of letters seeking aid from her billionaire brother. She <a href="https://learningbygivingfoundation.org/blogs/lxg-team/alex-buffett-rozek">gifted more than $180 million</a> over the course of 25 years.Rozek helped his grandmother with her philanthropy, and continues to chair the boards of two foundations linked to her: Learning by Giving and the Letters Foundation.

Warren Buffett's great-nephew joins the SPAC boom by listing a $150 million blank-check company

<ul><li><keyword id="10930883" type="COMPANY" weightage="20" keywordseo="laxmi-organic">Laxmi Organic</keyword> has launched its ₹600 crore initial public offer (IPO) today, and it will be open for subscription till March 17.</li><li>The price band is fixed at ₹129-130, and each lot consists of 115 equity shares.</li><li>Analysts are bullish on the company, pointing out its strengths and strategic measures undertaken.</li><li>The company has proposed to use the proceeds of the IPO towards capital expenditure for setting up new facilities and expanding its capacities.</li></ul> Laxmi Organic has kicked off its initial public offer (IPO) worth ₹600 crore today, March 15. It joins companies like Anupam Rasayan, Craftsman Automation, EaseMyTrip, MTAR Technologies among others. Laxmi Organic Industries Ltd’s initial share sale is now open and will be live till March 17, with a price band of ₹129-130. Each lot consists of 115 shares. A total of 4.65 crore shares are available for subscription in the IPO. 50% of the issue is reserved for qualified institutional buyers (QIB), 15% for non-institutional bidders and the remaining 35% for retail investors. The proceeds of the IPO are proposed to be used for repayment of certain borrowings, capital expenditure towards setting up a production facility, funding capital expenditure requirements towards expanding of specialty intermediates manufacturing facility, among other things. <cmsannotation type="cmsannotation" annotationid="What is the business of Laxmi Organic?" comment="subhead" text="What is the business of Laxmi Organic?">What is the business of Laxmi Organic?</cmsannotation> Laxmi Organic is one of the largest manufacturers of ethyl acetate, which is used as a solvent for paints, varnishes, cleaning mixtures and perfumes. Laxmi Organics is also the only manufacturer of diketene derivatives in India. Founded in 1989, Laxmi Organic is based in Mumbai and is a part of the Goenka Group. It has over three decades of experience in large scale manufacturing of chemicals. Currently, it is the largest manufacturer of ethyl acetate in India, with a market share of 30%. Its market share will be further augmented after the acquisition of Yellowstone Chemicals. At the moment, Laxmi Organic’s product line is divided in two categories – Acetyl Intermediates (AI) and Specialty Intermediates (SI). The AI category includes ethyl acetate, acetaldehyde, fuel-grade ethanol and other proprietary solvents. Specialty Intermediates comprises ketene, diketene derivatives namely esters, acetic anhydride, amides, arylides and other chemicals. Its current manufacturing capacity totals to 2.39 lakh metric tonnes per annum, with each chemical having its dedicated manufacturing facility. <cmsannotation type="cmsannotation" annotationid="Here are some of the clients of Laxmi Organic" comment="subhead" text="Here are some of the clients of Laxmi Organic">Here are some of the clients of Laxmi Organic</cmsannotation> Laxmi Organic has clients in over 30 countries, including Netherlands, China, Russia, Singapore, UAE, UK and USA. Its clients include Dr. Reddy’s Laboratories, <keyword id="672367" type="DOMAIN" weightage="20" keywordseo="Granules-India">Granules India</keyword>, Hetero Labs, Heubach Colour, Mylan Laboratories, Huhtamaki India, among others. <table style="border-width: initial; border-style: none;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Prabhudas Lilladher </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">GEPL Capital </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Capital Market </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Arihant Capital </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> <cmsannotation type="cmsannotation" annotationid="Laxmi Organic – strengths and strategies" comment="subhead" text="Laxmi Organic – strengths and strategies">Laxmi Organic – strengths and strategies</cmsannotation> Leading manufacturer of ethyl acetate Laxmi Organic is one of the largest manufacturers of ethyl acetate with a market share of 30% in India. “Ethyl acetate is a highly versatile solvent used in multiple applications across industries. It is derived from nonaromatic raw materials. The bio-based origin of ethyl acetate gives it a distinct identity and makes it a preferred solvent over traditional solvents,” stated an <keyword id="6375760" type="DOMAIN" weightage="20" keywordseo="axis-capital">Axis Capital</keyword> report. Only Indian manufacturer of diketene derivatives It is also the only Indian manufacturer of diketene derivatives. This is a significant strength as India has traditionally imported the chemical. Due to its research and development efforts, Laxmi Organic has captured 55% of the revenue share in the Indian market. Diversified customer base Laxmi Organic customers are spread across various sectors like pharmaceuticals, agrochemicals, dyes and <keyword id="1540974" type="DOMAIN" weightage="20" keywordseo="Pigments">pigments</keyword>, inks and coatings, paints among others. Pharmaceuticals is the biggest contributor to its top line, with a share of 35.7% of the company’s total revenue. Strategically located manufacturing facilities, vertical integration and supply chain efficiencies Laxmi Organic currently has two manufacturing facilities in Maharashtra, which are in close proximity to several ports, including major ones like Jawaharlal Nehru (Nhava Sheva) Port, JSW port and Mumbai port. The company also has distilleries located near sugar mills in Maharashtra, giving them easy access to supply for molasses. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/craftsman-automation-has-launched-its-824-crore-initial-public-offer-ipo-in-stock-market-in-india/articleshow/81506486.cms">The ₹824-crore Craftsman Automation IPO opens today – should you subscribe?</a> <a href="https://www.businessinsider.in/stock-market/news/the-760-crore-anupam-rasayan-ipo-has-received-a-mixed-response-from-brokerages-heres-what-works-for-it-and-what-doesnt/articleshow/81462495.cms">The ₹760-crore Anupam Rasayan IPO has received a mixed response from brokerages — here's what works for it and what doesn't</a>

Laxmi Organic kicks off its ₹600 crore IPO – should you subscribe?

<ul class="summary-list"><li>Abry Partners' $100 million stake in Kevin Hart's company HartBeat is the latest big <keyword id="11930356" type="UNKNOWN" weightage="60" keywordseo="ma" source="Orion">M&amp;A</keyword> move in <keyword id="11895191" type="UNKNOWN" weightage="60" keywordseo="hollywood" source="Orion">Hollywood</keyword>.</li><li>Dealmakers said production companies are valuable amid the <keyword id="11918203" type="UNKNOWN" weightage="60" keywordseo="streaming-wars" source="Orion">streaming wars</keyword> and demand for content.</li></ul>The streaming wars have spurred a period of frenzied dealmaking in Hollywood. Amazon kicked off a major round of M&amp;A last May with its $8.45 billion offer for 97-year-old studio MGM. In the year since, several entertainment companies have sold pieces of their business, including Reese Witherspoon's <a href="https://www.businessinsider.com/reese-witherspoon-hello-sunshine-growth-strategy-acquisition-2021-8">Hello Sunshine</a> and Will Smith and Jada Pinkett Smith's Westbrook Inc. to <a href="https://www.businessinsider.com/top-private-equity-investors-in-hollywood-entertainment-2021-7">Blackstone-backed Candle Media.</a>Joe and Anthony Russo's AGBO sold a stake in January to South Korean video game publisher Nexon. In March, <keyword id="6358540" type="UNKNOWN" weightage="60" keywordseo="sony" source="Orion">Sony</keyword> Pictures Television announced it would take a <a href="https://www.hollywoodreporter.com/business/business-news/sony-buys-industrial-media-american-idol-90-day-fiance-1235103590/">majority stake in Industrial Media</a> — known for reality TV hits like TLC's "90 Day Fiancé" — in a deal valuing the company at $350 million. And STX Entertainment was acquired by the Najafi Companies in April for around $157 million, <a href="https://www.hollywoodreporter.com/business/business-news/stx-sold-to-investor-group-led-by-najafi-companies-1235084457/">according to the Hollywood Reporter</a>.In the latest deal, Kevin Hart's new <keyword id="11894119" type="UNKNOWN" weightage="100" keywordseo="media" source="Orion">media</keyword> venture, HartBeat, announced that <keyword id="12061432" type="UNKNOWN" weightage="60" keywordseo="private-equity" source="Orion">private equity</keyword> firm Abry Partners was <a href="https://markets.businessinsider.com/news/stocks/kevin-harts-media-company-sells-$100-million-stake-to-private-equity-11291266">taking a $100 million minority stake</a> in the business, which combines his HartBeat production shingle and digital comedy platform Laugh Out Loud. <a href="https://www.businessinsider.com/kevin-hart-company-ceo-thai-randolph-private-equity-hartbeat-2022-5">Thai Randolph stepped up as CEO</a> of the company after leading the fundraise.The M&amp;A activity had top Hollywood dealmakers telling Insider in early 2022 that practically every independent production company is a target.Private equity firms are leading the pursuit, especially when it comes to talent-fronted shingles, because they see value in investing in content before the streaming service boom plateaus — and demand for original programming along with it. Apollo in January took a $760 million stake in "<keyword id="11975656" type="UNKNOWN" weightage="60" keywordseo="dune" source="Orion">Dune</keyword>" producer <keyword id="13232532" type="UNKNOWN" weightage="60" keywordseo="legendary" source="Orion">Legendary</keyword>, in a move that "is about us making our own IP," Apollo partner <a href="https://www.businessinsider.com/apollo-global-partner-reveals-acquisition-strategy-tegna-legendary-future-ma-2022-2">Aaron Sobel told Insider</a>. "You're going to be seeing us do M&amp;A and there's much more that's going to happen," he said."More traditional media companies are trying to pivot," said Waymaker Law founder Ryan Baker, adding that periods of disruption foment more M&amp;A activity because it's "quite common for entrenched incumbent players tied to existing technology to not be as nimble" and they can often adapt more quickly by buying than building.Not only does the appetite for production capabilities appear insatiable, but valuations also are sky-high. Hello Sunshine, whose projects include Apple TV+ drama "The Morning Show," was valued at $900 million in its Candle Media deal. SpringHill Co., founded by LeBron James and Maverick Carter, nabbed a $725 million valuation when it took on <a href="https://www.businessinsider.com/lebron-james-springhill-valued-725-million-nike-epic-invest-2021-10">an investment</a> from a group including RedBird Capital, Nike, and Epic Games. <h2>'The key is buying franchises.'</h2>Such targets aren't being evaluated as traditional production companies, but rather as IP generators that have the potential to feed the demand for the next "Squid Game" or "Yellowstone," projects built with DNA that could anchor universes and also extend beyond the screen. "Original content is becoming more important and you want to bring a lot of the production capabilities in house," said Pivotal entertainment analyst Jeffrey Wlodarczak. "The key is buying franchises." All that deal flow is leading some Hollywood companies to hang "for-sale" signs. Village Roadshow, the producer of "Joker" and "The Lego Movie," has hired PJT Partners to seek investment or acquisition offers, per the <a href="https://www.wsj.com/articles/village-roadshow-producer-on-movies-including-joker-and-the-matrix-explores-strategic-options-11642182117">Wall Street Journal</a>.The limited set of larger production businesses that make attractive acquisition targets, sources said, includes A24, Skydance Media, and MRC. But among smaller shops, having a talent affiliation is key. A production company without a big-name is more like an arms dealer, a top dealmaker said, and typically lacks the potential to expand into multiple verticals — or to command a top-tier valuation. Celebrity-fronted businesses come with their own risks. If the talent isn't interested in expanding beyond filmed entertainment, the value of the deal declines. And if a star's reputation falters, the business could slip with it. Not all independent shops control the IP they create. Many production companies make work-for-hire or don't control the rights to a project once it is sold off to a studio distributor. Still, some buyers are game to pay for access to the next big idea from, say, creators like the Russo brothers, even though their reputation was built largely on "The Avengers" — aka Marvel IP — said another dealmaker who asked to remain anonymous.Based on January interviews with five entertainment industry experts and insiders, Insider identified a list of 10 production companies that could be compelling acquisition targets as M&amp;A activity continues.<h2>10 Hollywood M&amp;A targets with production capabilities and brand recognition</h2><ul><li>A24 The company led by CEO David Fenkel and chairman Daniel Katz has long been the subject of acquisition speculation thanks to its lineup of buzzy titles, including Greta Gerwig's "Lady Bird" and best picture Oscar winner "Moonlight." A24 — which also produces TV shows like "Ramy" — has a production deal with Apple and a film licensing agreement with Showtime. </li><li>Array Ava DuVernay's company produces, markets, and distributes films from women and people of color. Array also is behind DuVernay projects like Netflix series "Colin in Black &amp; White" and has a deal with the streamer to release film projects including 2021 dramedy "Donkeyhead." </li><li>Bad Robot J.J. Abrams and wife Katie McGrath's 23-year-old shop is behind everything from HBO drama "Westworld" to the next installment of the "Mission: Impossible" franchise. Though Bad Robot doesn't own the rights to those titles, Abrams is such an in-demand creative talent that <a href="https://www.hollywoodreporter.com/tv/tv-news/jj-abrams-officially-closes-sizable-warnermedia-film-tv-partnership-1232979/">WarnerMedia</a> in 2019 paid a reported $250 million for a five-year film and TV overall deal with him. </li><li>Blumhouse Jason Blum's shingle has perfected its model of producing horror films on a tight budget, projects that reap big gains when they hit with audiences. Consider 2021's "Halloween Kills," which made more than $131 million at the box office, amid COVID fears and restrictions, on a $20 million budget. A 10-year first-look deal with Universal Pictures that runs through 2024 bodes stability for Blumhouse's film business.</li><li>Chernin Entertainment Peter Chernin's company — which produced NBC's "New Girl" and the rebooted "Planet of the Apes" film series — is said to be exploring strategic options. It has a first-look deal with Netflix, and in 2020 it struck a deal with Spotify to develop its podcasts for film and TV. </li><li>Imagine Entertainment Previously a target for Kevin Mayer and Tom Staggs' Candle Media, the production company co-founded by Ron Howard and Brian Grazer was in talks early this year to sell a stake to London-based Centricus, <a href="https://www.wsj.com/articles/ron-howard-and-brian-grazers-imagine-entertainment-in-talks-to-sell-majority-stake-to-investment-firm-centricus-11642175909">WSJ</a> reported. Its recent films include "Hillbilly Elegy" and "Tick, Tick…Boom!" for Netflix. </li><li>Scout Productions The 28-year-old company led by Michael Williams, David Collins and chief creative officer Rob Eric has driven some of the highest-profile LGBTQ+ projects in Hollywood, including "Queer Eye for the Straight Guy" and its "Queer Eye" reboot on Netflix.</li><li>Seven Bucks Productions Led by Dwayne "The Rock" Johnson and Dany Garcia, Seven Bucks produced "Red Notice" for Netflix and has the upcoming "Black Adam" for Warner Bros. It also makes content for Johnson's YouTube channel, where he has 5.89 million subscribers. </li><li>Skydance Media David Ellison's production shingle is behind the upcoming "Top Gun: Maverick" and is teaming with regular producing partner Bad Robot on "Mission: Impossible 7" and "Star Trek 4." The company — which has taken investments from RedBird Capital, Korea's CJ ENM, and Tencent — will produce a slate of live-action films for Apple, where it already has an animated film and TV series deal. </li><li>Village Roadshow The film producer and financier majority owned by private equity firm Vine Alternative Investments is best known for Warner Bros. co-productions including "The Matrix Resurrections" and "Joker." The company, which is led by CEO Steve Mosko, recently has been focused on producing its own original films. </li></ul>This article was originally published on January 27 and has been updated, most recently on May 19.

Kevin Hart sold a $100 million stake in his media company to private equity firm Abry. Here are 10 Hollywood more production shops that are hot M&A targets.

<ul class="summary-list"><li>After playing to the coasts, Hollywood is leaning toward faith and family-based shows and films.</li><li>Amazon and Netflix recently announced deals for faith-based content.</li></ul>This holiday season, <a target="_blank" href="https://www.businessinsider.com/amazon-studios-expansion-challenges-jennifer-salke-citadel-lord-rings-2023-2">Amazon MGM Studios</a> is set to release "House of David," a series with an epic production and global aspirations to match the breadth of its biblical source material. The Prime Video series will be the first to come out of <a target="_blank" class="" href="https://www.businessinsider.com/amazon">Amazon's</a> deal with The Wonder Project, a Christian-focused production company, for faith-based films and TV shows."We are very excited about the scope, scale and storytelling involved with 'House of David' and look forward to sharing this epic and many others with our global Prime Video customers," Vernon Sanders, head of television for Amazon MGM Studios, <a target="_blank" href="https://variety.com/2024/tv/news/amazon-wonder-project-faith-based-films-shows-house-of-david-1235875596/">said</a> in announcing the deal.After playing to the coasts with shows that embraced progressive themes, Hollywood is <a target="_blank" href="https://www.businessinsider.com/hollywood-risk-averse-new-shows-tv-big-stars-snubbed-2024-9">leaning into broadly appealing fare</a>. That shift has included a combination of undeniably faith-based, conservative-themed, and family-aimed entertainment, agents, producers, and industry experts say.It's a long way from Amazon's early days in creating original entertainment that put it on the map, like "Transparent," which came out in 2013 as gender issues were on the political agenda. Studios head <a target="_blank" href="https://www.businessinsider.com/amazon-studios-expansion-challenges-jennifer-salke-citadel-lord-rings-2023-2">Jennifer Salke, who came on board in 2018, said she was looking for</a> "curated" overbroad shows and pledged to seek out projects with diverse talent.<div type="image" title="yellowstone" height="1368" width="2132" msid="115016601" hostid="261" sizebytes="40586"></div>"They're heartland-curious," Nick Barnes, UTA's Nashville-based head of its Heartland division, said of the streamers. "It's, 'What's our Yellowstone?' I see cowboy boots every time I go to Los Angeles now." The Kevin Costner-starring Western and soapy family drama has become one of TV's most popular scripted shows.Disney CEO Bob Iger <a target="_blank" href="https://www.businessinsider.com/bob-iger-woke-disney-is-over-not-silence-his-critics-2024-4">reversed</a> the company's proud embrace of diverse themes after getting hammered by critics on the right, trading movies like "Zootopia," which dealt with prejudice, for this year's "Deadpool &amp; Wolverine."Netflix, off the success of "Virgin River," a small-town romance that was just renewed for a seventh season, recently announced a deal with Tyler Perry and DeVon Franklin to make faith-based films starting with "R&amp;B," a take on the biblical love story of Ruth and Boaz set in the modern-day American South. It also just acquired "Mary," a biblical epic starring Anthony Hopkins.Netflix has also been taking a page from the "Yellowstone" playbook with an upcoming bull-rider series called "Ragdoll," starring country superstar (and "Yellowstone" actor) Tim McGraw. Also on tap is "American Primeval," a miniseries it <a target="_blank" class="" href="https://www.netflix.com/tudum/articles/american-primeval-cast-taylor-kitsch">describes</a> as a "raw, adventurous exploration of the birth of the American West."<h2 id="0f8424da-4da9-47f8-9d19-696de395a53e">Economics fuel a cultural shift</h2>The rightward tilt has a lot to do with fear and economics.Facing big financial pressure, studios and streamers are looking to make entertainment for the most subscribers at the lowest cost possible as the <a target="_blank" class="" href="https://www.businessinsider.com/comcast-split-cable-tv-cnbc-bravo-nbc-peacock-2024-10">cable business wanes</a> and <a target="_blank" class="" href="https://www.businessinsider.com/streaming-strategy-spend-billions-wrong-netflix-disney-paramount-warner-bros-2023-2">streaming profits have been rare</a>. In this newly conservative greenlighting era, buyers are looking around for sure things and pockets of audiences where there's opportunity.Faith-based and family-oriented shows can be made relatively cheaply, without big-name stars, and have the potential to travel globally. Streamers are all in the <a target="_blank" class="" href="https://www.businessinsider.com/amazon-prime-video-preview-shake-up-tv-ad-marketplace-2024-1">ads business now</a>, and advertisers like entertaining, non-polarizing content geared toward everyone in the household.<div type="image" title="Jim Caviezel in a brown shirt" height="675" width="1200" msid="115016606" hostid="261" sizebytes="45878"></div>The studios and streamers have also seen breakout successes of Christian-themed titles. Angel Studios-distributed "The Chosen," a 2017 TV drama about Jesus and his apostles from filmmaker Dallas Jenkins, is considered one of the most successful crowdfunded entertainment projects, <a target="_blank" href="https://www.bbc.com/culture/article/20240124-the-chosen-the-christian-funded-hit-about-jesus-taking-the-us-by-storm">raising nearly $100 million</a>.Angel Studios followed it up with "Sound of Freedom," a 2023 thriller about child trafficking that wasn't about religion per se but was championed by conservatives and churchgoers to become one of the most successful indie films with a $180 million domestic box office. "Jesus Revolution," a 2023 movie by Wonder Project founder Jon Erwin about hippie Christians in California, grossed about $54 million on a $15 million budget.UTA's Barnes said that successes like these have encouraged top Christian filmmakers, who so far have largely operated outside the major studio system, to start talking about making TV series for distribution by major streamers, where the real eyeballs are.Hollywood's shift doesn't surprise historians. For much of TV history, programming was a mass-audience proposition, family-oriented and conservative. Networks, guided by their standards divisions, programmed to reach as many people as possible and avoid turning off advertisers. TV couples slept in separate beds and faith was a big genre (1977's "Jesus of Nazareth" and "Touched by an Angel," which ran from 1994 to 2003, for example).Cable and streaming gradually split those audiences into niches. Now streamers are back to serving everyone in the scramble to survive.Take Netflix. Its growth <a target="_blank" href="https://www.businessinsider.com/netflix-questions-from-wall-street-growth-ads-future-earnings-2024-10">has slowed</a>, which is forcing it to seek out new audiences at home and abroad while selling ads and cracking down on password sharing, said Robert Thompson, a professor at Syracuse University's Newhouse School of Public Communications and director of its Bleier Center for Television and Popular Culture."Conservative, faith-based, family, is not a bad place to look," Thompson said. "There's a big audience that likes faith-based and family programming — it's affirmative and not critical in lots of ways." Not to mention the Bible offers a rich mine of storytelling. "It's a rip-roaring set of good stories — Exodus is one of the most rollicking stories out there."<div type="image" title="Hilary Swank at the Lionsgate's &quot;Ordinary Angels&quot; New York Premiere" height="683" width="1024" msid="115016609" hostid="261" sizebytes="47284"></div>Faith-based can mean overtly Christian, but today's suppliers are also finding a market for premium storytelling that people in Hollywood call faith-adjacent. That's helped them to attract mainstream backing and stars like Hilary Swank, who features in "Ordinary Angels," a 2024 inspirational drama from Kingdom Story Co., a production company specializing in Christian films. The Wonder Project raised $75 million from backers, including Lionsgate, UTA, and horror producer Jason Blum for its faith-centric ambitions. Lionsgate has long had a filmmaking deal with Kingdom Story Co.Still, for all the interest in serving the flyover states, proponents say change has been slow.Studios and streamers want to serve rural America but are reluctant to touch something they consider too religious or conservative. The decision-makers are still largely bicoastal and don't really know the audience or agree on what a "heartland" or a "family" show is. ("Modern Family" may be, but is gothy "Wednesday?")To those in this world, heartland means shows about universal values, neighbors helping neighbors, and offering hope. For others, it may connote far-right conservatism, an association many in Hollywood shun (<a target="_blank" href="https://www.theatlantic.com/magazine/archive/2022/12/yellowstone-tv-series-taylor-sheridan/671897/">See: Taylor Sheridan</a>). "The far right has hijacked Christianity, so what constitutes family-based programming would mean very different things, depending on who you talk to," Thompson said."They know faith and family and 'Yellowstone' is important, But the mandates come and go without a lot of acquisitions," Barnes said of entertainment buyers. "While they understand they need this audience, they don't understand them."Faced with uncertainty, it's easier and safer for studios and streamers to fall back on familiar franchises. "They would much rather make 'Transformers 7' than 'The Blind Side,'" quipped a Hollywood agent who spoke on condition of anonymity to protect relationships with the studios and networks.According to research firm Ampere Analysis, the number of "faith and spirituality" content hours on the major US streamers roughly doubled over the past year, to about 500, but is still under 1% of their total catalog hours.That could change as <a target="_blank" href="https://www.businessinsider.com/hollywood-losing-dominance-tv-movies-employment-chart-2024-10">more people leave Los Angeles</a> for states like Georgia, Texas, and Tennessee, which have growing film and TV production hubs."The more people come and see that the big, bad scary heartland and the South are not what they think it is, the friendlier they are to tell the story of these places," Barnes said.

Hollywood goes conservative as an economic shift fuels a turn toward faith and family-based shows

<div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image on-image"><a title_source="Pinterest " title_caption="Pinterest cofounder Evan Sharp" class="zoomin" href="https://static-ssl.businessinsider.com/image/555112516da81181017dcedc-960/evan-sharp-5.jpg"></div></div></div>BI: How has Pinterest unleashed that creativity in you?ES: I got back into photography really heavily about a year and a half ago, and I used Pinterest to figure out what I liked and what photographers I actually loved. That was a process of browsing through thousands and thousands of photographs and figuring out, over time, what the pattern was of what interested me. I found all these great photographers I had never heard of, just by using Pinterest to save the stuff that caught my eye over time.And now I take crazy-amounts of photos. I probably took 15,000 photos last year. All of that is about me getting confident in what my taste is, and learning to feel confident in expressing it myself. So for me it was a tool that helped me find a voice, in a way, photographically. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/kids-choose-between-iphone-and-samsung-2015-4">Kids settle the debate and tell us which is better: an Apple or Samsung phone</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="JuZ2ppdDqpnTN4qk0JxJdpt7pBWqTiaj" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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