Madison Square Garden to buy half of Tribeca for $45M

|About: The Madison Square Garden... (MSG)|By:, SA News Editor

Madison Square Garden Company (MSG) has agreed to acquire 50% of Tribeca Enterprises, an independent film company co-founded by Robert De Niro, for $45M.

New York based Tribeca is best known for its festivals but also runs international film events, a two-screen theater, a digital studio and a not particularly successful distribution division.

MSG won't get majority control but it expects to have opportunities over time to increase its stake.