The deal marks the first international acquisition by Mediawan, the listed company launched in 2016 by three media industry veterans: Xavier Niel, Matthieu Pigasse and Pierre-Antoine Capton. Mediawan was formed as a special investment vehicle but has now become an integrated media group specializing in production and distribution for both film and TV.
Palomar is involved in film, TV series and documentaries. It will be attending the Berlin Film Festival with Claudio Giovannesi’s “La paranza dei bambini” (“Piranhas”), which is set to world premiere in competition.
Under the new deal, Mediawan becomes the majority shareholder of Palomar with a 72% stake, with the remaining 28% to be retained by Carlo Degli Esposti, Palomar’s founder and CEO.