Apple Inc AAPL is reportedly near a deal that would see it secure book rights to Michael Lewis’ latest work on Sam Bankman-Fried and the beleaguered cryptocurrency exchange FTX.
What Happened: The ‘Big Short’ fame author’s work is expected to be transformed into a feature film, reported Deadline, citing anonymous sources.
Film director Adam McKay, who adapted “The Big Short” into a movie, is reportedly expected to be involved in the venture.
The deal is expected to be closed at mid-seven figures, according to the sources of Deadline.
Apple did not immediately respond to Benzinga’s request for comment.
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Why It Matters: Bankman Fried-founded FTX and Alameda Research filed for bankruptcy on Nov. 11. The unraveling of the firms led cryptocurrencies like Bitcoin BTC/USD and Ethereum ETH/USD to plummet in value.
The book by Lewis will take a shot at explaining what happened at FTX and with its founder, according to Deadline.
Other projects on the topic include Scott Burns and Jonathan Glickman’s Panoramic Media, which is working with New York Times journalist Andrew Ross Sorkin, according to the report.
If confirmed, Apple would have beaten rivals Netflix Inc NFLX and Amazon.com, Inc AMZN to secure the rights.
Price Action: On Tuesday, Apple shares closed 1.5% higher at $150.18 in the regular session, according to Benzinga Pro data.
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Image and article originally from www.benzinga.com. Read the original article here.