A limited series based in the fall of co-sharing workspace company WeWork is in developing stage at Apple TV+, reports stated on Thursday.
WeWork’s sudden downfall has inspired filmmaker-producers Lee Eisenberg and Drew Crevello to develop his second TV series on Apple TV+.
Eisenberg’s first Apple TV+ original, Little America, received rave reviews. On the other hand, Crevello is a former film executive who was associated with “Tomb Raider” and “The Grudge 2”.
The upcoming Apple TV+ series on the WeWork debacle will be based on David Brown’s WeCrashed podcast from the podcast network Wondery, AppleInsider reported on Thursday.
WeWork was valued at nearly $50 billion but suffered a fall after reported mismanagement and alleged self-dealing on the part of co-founder and former CEO Adam Neumann.
Earlier this month, WeWork named Indian-American real estate veteran Sandeep Mathrani as the new CEO of the company.
Mathrani’s appointment comes at a crucial time when WeWork is trying to stabilise its business following its failed attempt to go public last year and the departure of Neumann.
Following the setback which led to a dramatic fall in its valuation, Japan-based technology investor SoftBank took 80 per cent ownership of the company and infused into it $5 billion in new financing.
SoftBank Group saw its quarterly profit being almost wiped out for a second straight quarter by losses at its $100 billion Vision Fund focused on tech companies like Uber and WeWork.
(With input from agencies)