Media Fund APX Group Takes 50% Stake in U.K.’s Twickenham Studios
Naman Ramachandran U.S.-Europe media fund APX Group has acquired a 50% stake in London’s Twickenham Film Studios. The move comes weeks after Twickenham Studios chair Sunny Vohra acquired a 6.95% stake in the APX Group for more than $70 million, reflecting a market cap of $1.1 billion for APX, which is planning a public listing on New York Stock Exchange later this year. APX and Twickenham did not disclose the financial value of the deal. As part of the acquisition, APX Group will rebrand its global network of studios with the Twickenham Studios name. The parties have also agreed on an accelerated expansion plan to acquire additional studios and land suited for studio construction in Europe and the U.S., all under the Twickenham Studios brand.