Robert De Niro's Tribeca Enterprises Sells 50 Percent Stake to MSG
Half of Tribeca Enterprises has been bought by Madison Square Garden. The Manhattan-based independent film firm co-founded by actor Robert De Niro 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 Nas. 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."
More Robert De Niro News
- 'True Blood' Alum Stephen Moyer Lands Lead Role on FOX's 'X-Men' Series Pilot
- Mariah Carey's Boobs Almost Spill Out of Her Plunging Dress at Vanity Fair's Oscars Party
- Selena Gomez and The Weeknd Go for a Date Night in Paris as Bella Hadid Parties Just Blocks Away
- Russell Crowe May Portray Cable in 'Deadpool 2'
- Keyshia Cole Punishes Cheating Boyfriend in 'You' Music Video Ft. Remy Ma and French Montana
- Vera Farmiga Set to Star as Millie Bobby Brown's On-Screen Mother in 'Godzilla 2'
- Lorde Teases Upcoming Music With Mysterious Ad
- 'The Voice' Season 12 Premiere: Gwen Stefani Returns as Coach and Wins the First Four-Way Battle