Magazine article Screen International

MSG Buys 50pc Stake in Tribeca

Magazine article Screen International

MSG Buys 50pc Stake in Tribeca

Article excerpt

The deal between Madison Square Garden Company and Tribeca Enterprises values the latter at $45m and has the potential to expand the festival's New York footprint into two of the most iconic venues in town.

Tribeca Enterprises will continue to be led by CEO and co-founder Jane Rosenthal as well as president and COO Jon Patricof who will lead day-to-day management and strategic development.

MSG's portfolio of properties includes Madison Square Garden, Radio City Music Hall and Beacon Theatre in New York, as well as The Chicago Theatre, the Forum in Inglewood, California, and the Wang Theatre in Boston.

"This partnership with Tribeca Enterprises and the Tribeca Film Festival - one of the top film festivals in the world - strengthens MSG's position in the entertainment industry and is another example of our continued focus on pursuing attractive growth opportunities that make strategic sense for the company," said Tad Smith, MSG president and chief executive officer. …

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