A24 Names NBA's J.B. Lockhart as Studio's First Chief Financial Officer

Committing to internal growth, following reports of a potential sale.

Entertainment 
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Indie film and TV studio A24 has tapped J.B. Lockhart, previously chief financial officer for the National Basketball Association (NBA), as its first CFO, according to The New York Times.

Lockhart first started working for the NBA in 2013, before being named CFO in 2017. In that role, he spearheaded long-term strategic planning objectives and managed finances for the NBA and its various other entities, which include the WNBA, NBA G League, Basketball Africa League and esports league NBA 2K League. Before leading finances for the NBA, Lockhart worked in investment banking, primarily in the media and technology sector, and held positions in Disney’s Strategic Planning Group.

Last month, A24, which is behind films including MoonlightEx Machina and Midsommar, was exploring potential sale options. In deals with tech companies and their respective streaming platforms, the studio was floating a valuation between $2.5 billion USD and $3.5 billion USD.

Now, with Lockhart’s hire, the company appears to be focusing on its internal growth, rather than securing a sale. As CFO, Lockhart will be responsible for leading the studio’s global expansion, according to insiders familiar with the company via Variety.

This year, A24 is financing and producing 14 TV series and 17 feature films across the globe.

In another entertainment update, Scarlett Johansson has joined the cast of Wes Anderson’s next film.

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