Three decades ago, Mathew Knowles founded his own music company Music World Entertainment Group. Now, the longtime music executive — who formerly managed Destiny’s Child and his daughters Beyoncé and Solange — is turning a new chapter in his career.
Knowles has sold his music company to APX Capital Group, Deadline reports. Music World Entertainment is set to merge its film and TV division within the investment fund. Under the acquisition, the former owner will now manage the $275 million fund for film and TV co-productions for the U.S. and Italy.
“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,” Knowles shared, according to Deadline. “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.”
Knowles’ new role further entails that he’ll develop, finance, and produce a range of diverse content across feature films, scripted series, and documentaries, according to the outlet.
Mathew Knowles Biopic On The Way
The story of how Knowles helped in launching the career of the legendary girl group Destiny’s Child is widely known in the industry, but now it will soon be televised on screen.
Under the new deal, “The Mathew Knowles Story” will be released. The biopic will take viewers into the journey of how he helped Destiny’s Child and his daughters reach superstardom.
Also, APX Capital Group “will own 10,000 hours of footage depicting the history of the Knowles family in the music industry through never-before-seen images, videos and music.”