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.

Music World Entertainment

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