Will Smith Teams With Director To Buy German Movie Rights Company
Will Smith has joined forces with Swiss director Marc Forster (“World War Z”) to acquire Telepool one of Europe’s oldest and largest, film licensing groups, in hopes of repurposing the company as a vehicle for their own projects. This will be the first time the two entrepreneurs have worked together. Both Smith and Forster individually have a net worth of over $250 million and this latest venture will only add to their bank accounts.
Although many people in the US may be unaware, Germany is one of the top 10 biggest box office markets for movies. In addition to the large movie going fanbase, German companies also provide a great deal of Hollywood movie financing. Founded in 1963, Telepool has focused mainly on licensing U.S. films and TV series for distribution in German-speaking Europe.
As part of the deal, their separate company’s will have the option to develop thru Telepool, but will remain independent of the German group. Smith? and James Lassiter have Overbrook Entertainment and Forster and Renee Wolfe’s independent production entity 2dux². Smith is also a co-owner of Overbrook, along with his wife Jada Pinkett-Smith and their partner Miguel Melendez.
While this acquisition is a big deal for the actor, rapper, and songwriter it is far from his first business move. As we recently reported, Smith joined Jay-Z and Kevin Durant and other partners, in a huge investment in a life insurance company.
The “Gettin Jiggy Wit It” hitmaker, Nicky Jam, and Kosovo born singer Era Istrefi, will perform the official 2018 FIFA World Cup Russia song at the finale of the World Cup. The finale will take place in Moscow’s Luzhniki Stadium on July 15th.
The former ‘Fresh Prince’ has not released a statement in reference to the venture but a recent Instagram video from Smith sums it up well. In a warm video he captioned,
What’s your Mission Statement? Will asks, “Have you discovered your Purpose?
Congratulations to him on another great business move.