On June 28, 2024, Boat Rocker Media Inc. announced it sold its stake in Untitled Entertainment LLC to TPG for approximately $51.6 million in cash and 8.8% equity in TPG's new talent management company. The Company aimed to build a diversified global talent management business.

Boat Rocker planned to use the proceeds to support its content-first strategy, focusing on owned IP, scripted television, premium documentaries, and animation. Michel Pratte was named CEO, and Eric Taitz as COO of the new company. Pratte received a transaction bonus in cash and equity.

This strategic move allowed Boat Rocker to concentrate on its core business while maintaining ties with Untitled and TPG. Despite industry delays, Boat Rocker anticipated an improved balance sheet to invest in industry-leading IP. The company expected Full Year 2024 Adjusted EBITDA to be approximately $10 million, with over $75 million in available cash and no corporate debt.

LionTree Advisors acted as financial advisor for Boat Rocker, with legal advisors Paul, Weiss, Rifkind, Wharton & Garrison LLP and Stikeman Elliott LLP. TPG was advised by Latham & Watkins LLP and Blakes, Cassels & Graydon LLP. Venable LLP served as legal advisors to Untitled’s founding partners, Weinberg and Simon