Matthew Knowles Sells Music World Entertainment Group, Heads $275M Film and TV Fund

After selling his famed Music World Entertainment to investment firm APX Capital Group, the former Destiny’s Child manager will now head the company’s film and TV division, responsible for a $275 million fund for productions between the U.S. and Italy, reports Deadline.

As part of the deal with the investment fund, Knowles is getting ready for his own biopic à la King Richard, about his role behind the scenes in building both his daughters’ stardom and his hand in not only their solo careers, but Michelle Williams and Kelly Rowland’s as well.

The Mathew Knowles Story will reportedly be executive produced by the Knowles patriarch, alongside venture capitalists and entrepreneurs Noam Baram, Yona Wiesenthal, and Augusto Pelliccia, among others.

APX Capital Group will own over 10,000 hours of never-before-seen footage, images, and music of the Knowles family in their rise to fame, per the outlet.

“The decision to partner with APX Capital Group is well made and corresponds to Music World Entertainment Group’s intent to expand its film and television portfolio,” Knowles stated. “Through this unique collaboration and as head of this new division under APX I’ll be able to share the story of my life by combining compelling storytelling with access to exceptional talent and music that will both entertain and emphasize a cultural awareness that’s necessary now more than ever. This is the story of my life, and I am honored to be able to transmit it even further through this alliance.”

The co-CEO of the real estate investment firm was also ecstatic to have Knowles join APX’s board.

News Source: BlackEnterprise   Written Credits: Wendy Medina