The US private equity firm The Carlyle Group where Abu Dhabi’s Mubadala Development Company owns a 7.5 percent stake, has agreed to sell its 61 percent stake in Taiwan’s Eastern Broadcasting Corp (EBC) to Hollywood filmmaker Dan Mintz who was a co-executive producer of Hollywood action movie Iron Man 3. Dan Mintz said he was in the process of buying the stake without disclosing the deal’s value nor the source of funding.
Los Angeles Times reported that Mintz, the founder and chief executive officer of DMG Entertainment and a co-founder of Shenzhen-listed DMG Entertainment and Media Co, had agreed to pay $600 million in the deal, seeking to tap into EBC’s potential China growth as a broadcaster of content in Mandarin.
When Carlyle launched its latest bid to exit the holding jointly with EBC’s second-biggest shareholder, Eastern Media International, for at least T$20 billion ($650 million), the deal comes. As the film producer states
As a media network EBC offers tremendous growth opportunities in digital, Mandarin-language content, premium content creation and distribution, which will become the anchor platform for ongoing global expansion of Mintz’s businesses.
Carlyle has invested in several fields including Booz Allen Hamilton, Dex Media, Dunkin’ Brands, Getty Images, Hertz, Kinder Morgan, Nielsen and United Defence. In 2007, Mubadala, an Abu Dhabi wealth fund, has bought its 7.5 percent stake in the company.