Will Smith and Jada Pinkett Smith have reportedly sold a minority stake in their media company, Westbrook, to former Disney executives Tom Staggs and Kevin Mayer. Westbrook — which produces Netflix’s hit series “Cobra Kai” and which backed “King Richard,” the biopic starring Will Smith as Richard Williams, the father of tennis stars Venus and Serena Williams — had been in talks with Staggs and Mayer until the deal fell apart in October. Terms of the deal, which came after talks were rekindled in recent weeks, were not disclosed. Mayer and Staggs are being financed by private-equity giant Blackstone Group. Their media venture made headlines last year when it purchased Reese Witherspoon’s production company Hello Sunshine in a deal valued at $900 million and followed that up with a $3 billion deal for Moonbug Entertainment, the children’s TV company behind “CoComelon” and “Blippi.” Westbrook Inc. is comprised of a production studio, Westbrook Studios, and a digital arm, Westbrook Media. Upcoming projects for the company include the action film “Emancipation,” which will appear on Apple TV+ and star Will Smith, as well as the “Fresh Prince” reboot “Bel-Air’ that will premiere next month on Peacock.
