Ms. Rothenthal, who formed Tribeca, organizers of the Tribeca Film Festival, with her husband Craig Hatkoff and veteran actor Robert De Niro has linked up with the Madison Square Garden company.
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Jane Rothenthal and her Husbend and co-founder Craig Hatkoff / Wikipedia
Jane Rothenthal, CEO and co-founder of Tribeca Enterprises, organizers of the annual Tribeca Film Festival has announced that the Madison Square Garden (MSG) company has taken a 50% stake in the organization which he formed with screen legend Robert De Niro and her husband Craig Hatkoff.
According to industry observers , the merger move can be a win-win situation for both parties as it will provide Tribeca with a more solid financial foundation and possible access to a number of high-profile venues which MSG own and operate. As far as MSG are concerned they will be gaining a viable foothold into the world of film festivals, as the company makes its move world to expand their activities in the ever-growing and highly live-event hosting business beyond sports and music, with the have been traditionally strong.
While the specific financial terms of the merger remain confidential, a spokesperson for Tribeca did state however that the deal “places a value on Tribeca Enterprises of around $45 million.” Tribeca will also continue to be run by Jane Rosenthal.
Tribeca Talks After The Movie: “Out Of Print” – 2013 Tribeca Film Festival / Getty
What may be particularly appealing about the new arrangement for Ms Rosenthal and her partners is that will allow the Festival, with this year’s due to start next month, the possibility of access to some of New York’s premiere venues, not only the famous Madison Square Garden venue but also Radio City Music Hall and the Beacon Theatre in New York and the Forum in Inglewood, which are all owned by the company.
Announcing the amalgamation, Ms. Rosenthal issued a statement which stated that since its founding 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, and are confident that 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.” Ms Rosenthal summed up.
Adding to her statement MSG’s recently appointed president and CEO Tad Smith confirmed his belief that the deal will enable the two companies to “honor not only movies, but the future of storytelling — while utilizing the tremendous platforms of both brands to drive the value and growth of our respective businesses.”
Tribeca Enterprises is an offshoot of Tribeca Productions, established in 1989 as a film and television production company, by Robert De Niro and producer Jane Rosenthal, which was based in the lower Manhattan neighborhood of TriBeCa.
The Tribeca Film Festival was first organized in 2002 by the duo, with Ms. Jane Rosenthal’s husband, Craig Hatkoff also taking a part. The festival was reportedly organized in the aftermath of the Twin Towers terrorist attacks of September 11, 2001, with the intention of restoring cultural activity to the Lower Manhattan district.
This year’s Tribeca Film Festival will be held between the 16th to the 27th of April with 87 films, 55 of them being premieres, to be shown.