Summary
LOS ANGELES (Reuters) - The financial crisis is forcing Wall Street banks and hedge funds to pull out of billions of dollars worth of filmdeals, opening the door for specialty investors to scoop up Hollywood assets at discount prices.From 2005 to 2008, hedge funds partnered with all the major banks from Merrill Lynch to Lehman Brothers to pump an estimated $15billion into films, taking on risks formerly absorbed by studios like Sony (6758.T: Quote, Profile, Research, Stock Buzz) Pictures andNews Corp's (NWSA.O: Quote, Profile, Research, Stock Buzz) 20th Century Fox in return for a share of profits.
Click Here
to read the full article
Click Here
to read the full article
