Zinger Key Points
- Successful actor on the screen, Ryan Reynolds is seeing success with his portfolio of investments as well.
- After selling his mobile company this week, the next venture for Reynolds could come in the sports sector.
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A leading actor and entrepreneur is the subject of another company he helped launch getting bought out. Here’s the latest on Ryan Reynolds and his golden touch.
What Happened: Leading telecommunications company T-Mobile US TMUS is acquiring Ka’ena Corporation, the owner of the Mint Mobile brand. The official news comes months after a buyout was speculated on Wall Street.
The deal values Ka’ena at a maximum value of $1.35 billion and will be acquired with 39% cash and 61% stock. The final closing price will be based on several performance metrics for Ka’ena prior to the closing.
Ka’ena Corporation is the owner of Mint Mobile, a direct-to-consumer prepaid wireless brand, international calling provider Ultra Mobile and wholesaler Plum.
T-Mobile said it would leverage the direct-to-consumer marketing capabilities that have been successful by Mint to reach new customers.
“Mint has built an incredibly successful digital direct-to-consumer business that continues to deliver for customers on the Un-carrier’s leading 55G network and now we are excited to use our scale and owners’ economics to help supercharge it – and Ultra Mobile – into the future,” T-Mobile CEO Mike Sievert said.
Reynolds is a co-owner of Mint Mobile and will remain with the company in a creative role, which has included past appearances in commercials and advertising efforts.
“Mint Mobile is the best deal in wireless and today’s news only enhances our ability to deliver for our customers. We are so happy T-Mobile beat out an aggressive last-minute bid from my mom Tammy Reynolds,” Ryan Reynolds said.
A video discussing the deal showed Sievert and Reynolds bantering back and forth in the unique Mint Mobile marketing style. Reynolds said Mint has run on the T-Mobile network previously, which was a big part of the company’s success.
Related Link: Ryan Reynolds Uses ChatGPT To Craft A Commercial, Result Is Hilarious But Mildly Terrifying
Ryan Reynolds Success Outside Acting: Reynolds has dominated the box office in recent years with hits like “Deadpool” and “Deadpool 2” and has seen success with streaming companies, starring in hit movies like “Red Notice,” “The Adam Project” and “Spirited.”
Outside of acting, Reynolds has had several success stories as well.
Reynolds co-founded Maximum Effort, a production company and marketing agency. The company signed a deal with FuboTV FUBO in 2022 that also saw Reynolds become an investor in the media company.
In 2020 Reynolds sold Aviation Gin, a spirits company he held a stake in, for $610 million to beverage giant Diageo DEO.
Reynolds is also an investor in 1Password and Canadian wealth management firm Wealthsimple.
As for what’s next for Reynolds, it might have to do with his sports team ownership. Reynolds is the owner of soccer team Wrexham AFC and has expressed interest in adding a hockey team to his portfolio.
Benzinga reported previously on Reynolds’ interest in the NHL’s Ottawa Senators. In February, Reynolds teamed up with Canadian real estate company The Remington Group on a bid for the team that would include building a new arena near downtown Ottawa.
The Senators, valued at $655 million by Sportico, received nine bids, with some topping the $900 million mark. The bidding has closed and is being evaluated by the NHL. The record sale figure for an NHL team is $900 million for the Pittsburgh Penguins in 2021.
If Reynolds' bid is approved, some of his Mint Mobile buyout money could go to work quickly.
Read Next: What Analysts Think Of T-Mobile US
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