UPDATE, 3:25PM: Madison Square Garden Company is buying a 50% stake in Tribeca Enterprises at $45 million, both companies have confirmed. CEO and co-founder Jane Rosenthal will continue to lead Tribeca along with President and COO Jon Patricof. For MSG, the upside is Tribeca’s content, not to mention an entry into the film festival business, while Tribeca will benefit from MSG’s marketing and promotional expertise and platforms. It also puts Tribeca in a position to expand its film festival brand and programs in New York and nationally. In the future, MSG will have the opportunity to up its share in Tribeca.
PREVIOUS BREAKING, SATURDAY 2:41PM: Madison Square Garden Company is making a strategic investment in Tribeca Enterprises — which includes Tribeca Film Festival. MSG is taking a substantial position in Tribeca. We are told MSG’s investment is at least $20 million-plus, upwards of $45 million. MSG and Tribeca are two of the best-known Gotham-based entertainment brands. The Tribeca Film Festival attracted 450,000 attendees last year at $550 a pop for top tier passes and $350 for second tier tickets. The fest is said to generate $750 million in economic activity for New York City. We are told that Tribeca Productions, which was founded by Robert De Niro and Jane Rosenthal in 1989, is not part of the deal.
Related: MSG Teams With Irving Azoff on New Entertainment Venture Read More »
Listen to (and share) episode 12 of Deadline’s audio podcast Global Showbiz Watch, with Nancy Tartaglione. Deadline’s international editor talks with host David Bloom about Tom Hanks in London and Quentin Tarantino in Lyons; the trial of the century, for London journalists at least, as the phone-hacking case that killed The News of the World gets underway; a couple of big Shanghai surprises from Disney and DeNiro; and a classy and smart Spanish mini-series that might make a worthy successor to Downton Abbey.
Deadline Global Showbiz Watch, Episode 12 (MP3 format)
Deadline Global Showbiz Watch, Episode 12 (M4a format) Read More »
EXCLUSIVE: Universal Pictures is picking up steam on Midnight Run 2, setting scribes David Elliot & Paul Lovett to rewrite it, and negotiating with Brett Ratner to helm a sequel that has Robert De Niro attached to reprise his role as bounty hunter Jack Walsh. De Niro and Jane Rosenthal’s Tribeca is producing with Ratner’s Rat Entertainment.
The studio and Tribeca put the wheels in motion on the sequel early last year, when they hired Tim Dowling to write a draft. Elliot & Lovett, who were writers on G.I. Joe: The Rise of Cobra, and are working on the sequel to Four Brothers (which they also scripted) will continue the storyline of Walsh, the ex-Chicago cop who, when last seen, set free the turncoat mob accountant The Duke at LAX and walked away with a wad of cash he’d use to open a coffee shop. When news broke about the sequel on the 1988 Martin Brest-directed George Gallo-scripted mismatched buddy classic, there was a lot of reaction, particularly since there was no word on whether Charles Grodin would be part of the film package.
I spoke to Grodin last year and he said that while he hasn’t really been moved to return to acting (among other pursuits, he spends his time as a volunteer advocate for poor, first-time offenders … Read More »
The GOP presidential candidate became righteously indignant today over a joke that DeNiro told at a fundraiser for President Obama, which Michelle Obama attended. “Callista Gingrich. Karen Santorum. Ann Romney. Now do you really think our country is ready for a white first lady?” DeNiro said, according to web site Talking Points Memo. “Too soon, right?” Cue Gingrich, speaking today in Shreveport, La.: “What DeNiro said last night was inexcusable and the president should apologize for him.” He added that “the country is ready for a new first lady and he doesn’t have to describe it in racial terms.” The former House Speaker also drew an analogy to the attacks on Rush Limbaugh, who recently apologized for calling law student Sandra Fluke a “slut” and “prostitute” when she testified in favor of employer health plan payments for contraceptives. “If people on the left want to talk about talk show hosts,” Gingrich said, ”then everybody in the country should hold the president accountable when someone at his event says something that is utterly and terribly unacceptable as what Robert DeNiro said.” The star of Raging Bull and The Godfather 2 told TPM that his remarks “although spoken with satirical jest, were not meant to offend or embarrass anyone —- especially the First Lady.” Michelle Obama called the joke “inappropriate.”