EXCLUSIVE: I’ve been digging for several days, and some of the details are still sketchy. But I can report that Joe Ravitch, formerly an investment banker at Goldman Sachs, and Jeff Sine, formerly an investment banker at UBS Warburg, are starting a new boutique investment advisory business about media and entertainment that will involve both Endeavor and Teddy Forstmann. The company, which doesn’t yet have a name, is supposed to begin in June. Not everything is nailed down yet. (One of the reasons everything is so hush-hush is because I hear the two men have non-competes so some of this is rather delicate.) From what I understand from film financing circles, the new company will be run separately from Endeavor but closely involve the agency. Forstmann is said to be funding the new biz. (“Uncle Teddy is putting up some money for Joe and Jeff to have some capital — not a lot — to play with,” says one of my sources.) Another source tells me that Ravitch-Sine also may join with Teddy to run his annual closed-to-the-press confab in Aspen held every September. As I told you, Forstmann has nothing to do with the potential WMA-Endeavor merger. But it’s no secret that Ravitch is advising Endeavor on the deal. And both Ravitch and Sine have been hanging out at Endeavor’s NY office now that they’ve left their respective firms. Anyway, it’s all interesting.
Editor-in-Chief Nikki Finke - tip her here.