Mathew Knowles’ MWEG Pacts with APX

Mathew Knowles and his Music World Entertainment Group (MWEG) have signed a multi-part deal to incorporate the company’s film and TV division into a newly created unit within APX Capital Group.

The new unit, Music World Films & TV (MWFT), will be managed by Knowles with a €250 million ($276 million) starting budget for film and TV co-productions completed between Italy and the U.S. The structure of the financing will be streamlined through APX’s Italian subsidiary, MMF Global Italia.

Per the deal, Knowles will join APX’s board immediately, and MWFT will develop, finance and produce a stream of diverse, co-owned content, including feature films, scripted TV series and documentaries that encompass Knowles’ career in the entertainment industry. The division’s portfolio will be bolstered by 10,000 hours of footage depicting the history of the Knowles family in the music industry.

Noam Baram, co-CEO and head of North America for APX Capital Group, said: “Mathew’s unparalleled career in the industry is shaped by his expertise in organizational culture, ethical leadership and activism. We’re tremendously honored to partner with him to bring attention to his personal accounts and the important cultural subjects that define our shared experience. These stories will encourage us all to look at our history, respect each other’s perspectives and learn to co-exist in a diverse world that’s united by universal human values.”

Yona Wiesenthal, joint co-CEO of APX Capital Group, said: “We are beyond thrilled to reach this groundbreaking agreement with Mathew and his team to develop impactful content told through the voice of one of the most successful and insightful entrepreneurs in entertainment today.”

Knowles said: “This partnership marks a milestone moment in the evolution of my company and my career as we embark on a new chapter with the visionary and extraordinary team at APX. 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. 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.”