January 18, 2017  

Robert De Niro's Tribeca Enterprises Sells 50 Percent Stake to MSG

March 24, 2014 (2:24 am) GMT
Madison Square Garden now owns half of Tribeca Enterprises after signing a deal that values the indie film company at $45 million.
Robert De Niro

Half of Tribeca Enterprises has been bought by Madison Square Garden. The Manhattan-based independent film firm co-founded by actor sold 50% stake to the MSG Company in an acquisition that values Tribeca at approximately $45 million.

The deal ultimately gives MSG an entry to the film business and in returns Tribeca enjoys the marketing power of a high-profiled sports and live entertainment company of which properties include Radio City Music Hall, the Beacon Theatre, the New York Knicks, and the New York Rangers.

The deal was announced just weeks before Tribeca hosts its 13th annual film festival which is set to begin on April 16. The event will kick off with a screening and concert for "Time is Illmatic", a documentary about rapper . It will be held at the Beacon Theatre.

"Bob De Niro and I have built a brand that supports community, artists, filmmakers and storytellers, we are thrilled to be a member of MSG's family of iconic entertainment brands," said Tribeca's CEO Jane Rosenthal. "Our partnership will allow us to grow the Festival and enhance the experience for our audience and provide more opportunities for the creative and filmmaking community nationally and internationally."

TODAY'S HEADLINES

  1. Bella Hadid and Justin Bieber Accuse Selena Gomez of Using The Weeknd for Promotion
  2. 'Guardians of the Galaxy Vol. 2' Toys Reveal First Look at Kurt Russell's Ego
  3. Will Kanye West Perform at Pal Donald Trump's Inauguration?
  4. Fergie Who? Nicole Scherzinger to Replace the Singer in Black Eyed Peas
  5. Tupac Shakur Biopic 'All Eyez on Me' Is Set to Be Released in Summer
  6. Kendall Jenner and A$AP Rocky Reignite Dating Rumors After Seen Shopping Together
  7. Ariana Grande Criticized for Claiming She's the 'Hardest Working 23-Year-Old' on Earth
  8. Lady GaGa Teases Super Bowl Performance in New Behind-the-Scenes Video