NEW YORK (AP) — Tribeca Enterprises, the film company
co-founded by Robert De Niro and the presenter of the Tribeca Film
Festival, has sold a 50 percent stake to the Madison Square Garden
Company.
The deal, announced Saturday night, combines two major
New York show business players. It gives Tribeca Enterprises the
marketing power of a growing sports and entertainment company and offers
the MSG Co. an entry into the film business.
The deal values
Tribeca Enterprises at $45 million. The acquisition comes just weeks
before the 13th annual Tribeca Film Festival begins April 16. The
company was co-founded by De Niro and Jane Rosenthal, who will remain
CEO.
Among the properties owned by the MSG Co. are Radio City
Music Hall, the Beacon Theatre, the New York Knicks and the New York
Rangers. The opening night of the Tribeca Film Festival, a screening and
concert for the documentary about the rapper Nas, "Time is Illmatic,"
will be held at the Beacon Theatre.
The MSG Co.’s MSG Productions
on Friday canceled the opening of its high-profile Rockettes show
"Hearts and Lights" days before its scheduled debut.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
NEW YORK (AP) — Tribeca Enterprises, the film company
co-founded by Robert De Niro and the presenter of the Tribeca Film
Festival, has sold a 50 percent stake to the Madison Square Garden
Company.
The deal, announced Saturday night, combines two major
New York show business players. It gives Tribeca Enterprises the
marketing power of a growing sports and entertainment company and offers
the MSG Co. an entry into the film business.
The deal values
Tribeca Enterprises at $45 million. The acquisition comes just weeks
before the 13th annual Tribeca Film Festival begins April 16. The
company was co-founded by De Niro and Jane Rosenthal, who will remain
CEO.
Among the properties owned by the MSG Co. are Radio City
Music Hall, the Beacon Theatre, the New York Knicks and the New York
Rangers. The opening night of the Tribeca Film Festival, a screening and
concert for the documentary about the rapper Nas, "Time is Illmatic,"
will be held at the Beacon Theatre.
The MSG Co.’s MSG Productions
on Friday canceled the opening of its high-profile Rockettes show
"Hearts and Lights" days before its scheduled debut.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.