Quick Hits: Will Hollywood Take a Hit From Lehman?
Posted on September 16, 2008 at 15:00 PM EDT
Turmoil on Wall Street won’t trouble movie production the way the Joker tormented Batman but it may change the way films are financed. The film industry won’t feel an immediate pinch from Lehman’s (LEH) bankruptcy filing or Bank of America’s (BAC) planned acquisition of Merrill Lynch (MER) but Hollywood may have to look elsewhere for future financing the Hollywood Reporter says. Summit Entertainment and Marvel Studios (MVL) have established credit facilities with Merrill and current interest rates will stand.But things could change if the Merrill sale is completed.The Hollywood Reporter citing “one rival executive ” says Bank of America ...
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