Former Goldman Sachs and UBS entertainment bankers Joe Ravitch and Jeff Sine are starting their own entertainment advisory firm with money from Teddy Forstmann, Nikki Finke reports.
Ravitch is a star media and entertainment banker who helped the Weinstein Company arrange its original funding after Harvey and Bob Weinstein left Disney. He’s currently advising endeavour in its rumoured merger with William Morris Agency. Finke claims Ravitch and Sine’s new company will be separate from endeavour but closely involved with the agency.
A source familiar with the situation tells us that Ravitch and Sine are starting their own firm, which would focus on niche entertainment and sports deals, and said that endeavour is likely contributing money to the venture. Furthermore, the new firm, which still doesn’t have a name, we hear will be using endeavour’s office space and back-office resources. As for the launch date, Finke says it’s probably June, and our source notes that Ravitch is still on gardening leave from Goldman Sachs, so his new firm likely wouldn’t start until this summer.
While our source couldn’t confirm Teddy Forstmann’s involvement. Finke’s report that the legendary RJR Nabisco banker might be providing capital may explain why the LA Times, perhaps erroneously, reported last night that Forstmann was involved with the endeavour-William Morris merger.
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