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.


Reader Comments (rss)

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  1.  
    identicon
    EH, Aug 20th, 2007 @ 4:03am

    500MM

    500MM is pocket change for wall street firms.

     

    reply to this | link to this | view in thread ]

  2.  
    identicon
    Tribster, Aug 20th, 2007 @ 5:07am

    Hollywood

    ....And apparently Hollywood Studios

     

    reply to this | link to this | view in thread ]

  3.  
    identicon
    Sanguine Dream, Aug 20th, 2007 @ 7:13am

    Wall Street...

    just wants to put its hands in someone else's cookie jar. A money grab.

     

    reply to this | link to this | view in thread ]

  4.  
    identicon
    Larry, Aug 20th, 2007 @ 8:22am

    Oops

    Check out the link...I wonder how much of that 500 mil is going to be used to pay off that little accident?

     

    reply to this | link to this | view in thread ]

  5.  
    identicon
    GoblinJuice, Aug 20th, 2007 @ 8:35am

    OMG! You mean there's a connection between the Wall St. and Hollywood!?

    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.

     

    reply to this | link to this | view in thread ]


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