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The Allen & Co. conference – which is this week – is the venue for media moguls to talk and possibly strike deals. Well, there is already a deal.
Actually, it's a new company. And, the initial principles include some heavy hitters: Robert Johnson, who is the founder of BET television, and Bob and Harvey Weinstein, who co-founded Miramax Films.
The name of the new company is Our Story Films. And it is targeted at African-American audiences.
It's a good idea. After all, BET television is a mega success. In fact, it is now owned by media giant Viacom.
There are also a variety of money-making movies focused on the African-American community, such as "Barbershop" and "Diary of a Mad Black Woman."
No doubt, the Rolodexes of Johnson and the Weinsteins is absolutely stellar. This is critical – because, of course, movies cost a fortune and require complex alliances and partnerships, as well as access to creative talent.
So far, Our Story Films has the backing of $175 million from JP Morgan Chase.
Not too shabby for a newly minted startup.
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