Wall Street's Rocky Love Affair With the Movies
Major banks once moved billions into film-slate financing. Then the recession hit. But insiders say the drought is about to end.
Call it Hollywood's Golden Age: During a five-year period ending in August 2009, about $17.4 billion in film-slate financing poured into the movie business, with major banks like Goldman Sachs eager to get in on the action. Then the recession hit, many deals went south, and the money dried up. But finance insiders say the drought is about to end.
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