CBR
search
Entertainment

HOLLYWOOD, CALIFORNIA - FEBRUARY 09: Miky Lee accepts the Best Picture award for 'Parasite' onstage during the 92nd Annual Academy Awards at Dolby Theatre on February 09, 2020 in Hollywood, California. (Photo by Kevin Winter/Getty Images)

Two of the world’s richest heirs join forces with Hollywood deal

HOLLYWOOD, CALIFORNIA - FEBRUARY 09: Miky Lee accepts the Best Picture award for 'Parasite' onstage during the 92nd Annual Academy Awards at Dolby Theatre on February 09, 2020 in Hollywood, California. (Photo by Kevin Winter/Getty Images)

Hollywood’s latest power couple hail from opposite sides of the world.

Skydance is best known for its Mission Impossible series starring Tom Cruise.
(Photo: today.line.me)

Samsung Electronics scion Miky Lee is one of the backers of a US$275 million investment in Skydance Media, the company founded by Larry Ellison’s son David, 37, in 2010, according to a statement.

The deal brings together the US$62 billion Ellison fortune and South Korea’s US$29 billion Samsung dynasty, the Asian nation’s richest.

“I really want to thank our Korean film audience. That made us really never be able to be complacent and keep pushing the directors, the creators, keep pushing the envelope. “

– Samsung Electronics’ Miky Lee

Lee, 61, the granddaughter of Samsung founder Lee Byung-chull, oversees CJ Group’s entertainment and media business. It opened her homeland’s first multiplex, invested in the DreamWorks studio and funded “Parasite,” the South Korean comic thriller that won four Oscars Sunday, including best picture.

David Ellison’s Skydance is best known for franchises like the “Mission: Impossible” films and the upcoming “Top Gun” sequel. It courted controversy last year after it hired Pixar pioneer John Lasseter to lead its animation business, scooping up the former Walt Disney Co. executive who was dismissed for workplace misconduct.

Miky Lee accepts the Best Picture award for ‘Parasite’ onstage during the 92nd Annual Academy Awards at Dolby Theatre on February 09, 2020 in Hollywood, California.

The tie-up underscores the entertainment world’s enduring appeal to the world’s richest people. In 2004, former Ebay Inc. executive Jeff Skoll started Participant Media, which makes movies targeting social issues. David Ellison’s sister Megan is also a film producer, whose credits include “Zero Dark Thirty” and “Phantom Thread.”

The Skydance deal, led by investment firm RedBird Capital Partners, values the company at US$2.3 billion, according to Tuesday’s statement. Other investors include Tencent Holdings Ltd. and the Ellison family.

The film “Parasite” won four Oscars at the Academy Awards.

Lee’s involvement is an even bigger coup after “Parasite” took home the top award at the Oscars. Her acceptance speech suggests she won’t be diluting the sometimes challenging output of her media empire.

“I really want to thank our Korean film audience,” she said at the ceremony in Los Angeles. “That made us really never be able to be complacent and keep pushing the directors, the creators, keep pushing the envelope.”