Wall Street Still Sending Some Cash Hollywood's Way
from the cruisin'-for-a-bruisin' dept
Just when it looked like Wall Street might be backing off from financing Hollywood films, Tom Cruise's film company, United Artists, has announced that it has raised $500 million from a group of investors put together by Merrill Lynch. Tom Cruise had had a longtime relationship with Paramount, although that was cut off, in part for personal reasons, but also because of doubts his ability to turn movies into hits. It's impressive that Merrill Lynch was able to pull together so much money, in times like these, for a proposition as shaky as investing in Hollywood blockbusters, but if things don't work out as planned, it could severely constrain future attempts at similar deals.Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.
While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.
–The Techdirt Team
Filed Under: hollywood, wall street
Companies: merill lynch, united artists
Reader Comments
Subscribe: RSS
View by: Time | Thread
500MM
[ link to this | view in chronology ]
Hollywood
[ link to this | view in chronology ]
Wall Street...
[ link to this | view in chronology ]
Oops
[ link to this | view in chronology ]
I thought artists - and the companies that produce the garbage - were in it for the betterment of society! I didn't think they cared about, ugh, MATERIAL GAIN!
I. Am. Shocked.
[ link to this | view in chronology ]