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

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.

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