More Middle East money flowing into high-profile U.S. investments: An Egyptian company is plowing $550 million into Hollywood’s Insomnia Media Group. Reuters:
Asset management firm Borak joins an expanding group of companies from the region who are financing Hollywood as U.S. private equity investors, who have pumped an estimated $10 billion into the industry in the last three years, have grown more skittish…
In September, Warner Bros (TWX) set up a film and video game firm with United Arab Emirates’ Aldar Properties (ALDR.AD) and a UAE media company, with the parties investing $500 million to develop films, and another $500 million on video games. They will also develop a theme park, hotel and cinemas in the Gulf Arab emirate.
In October, Abu Dhabi, capital of the UAE, hosted its first-ever Middle East International Film Festival, bringing together movie moguls like producer Harvey Weinstein and other studio executives with Arab investors.
As Henry Blodget pointed out yesterday, foreign investment in the U.S. is always a loaded issue, and right now “the Arabs” seem ready to become “the Japanese” from the late 80s/early 90s. We’re certainly going to hear more about it during the coming election. For a preview of what may be to come, check out this blast from the past, courtesy of the NYT. Reuters