Global Road Entertainment
With the U.S. distribution sector a financial black hole for midsize companies, former banker Donald Tang was warned that merging Open Road with sales and finance powerhouse IM Global was a recipe for trouble. While Tang Media Partners supposedly has Chinese and U.S. capital, Global Road, Tang’s flagship, has had trouble raising a further $200 million of equity to help leverage its vision of a $1 billion production slate. In recent days, financiers have stepped in to take over parts of Global Road. If only TMP had had a better shot at building its Chinese business, the omens might have been better.
OUTLOOK: In the hands of Bank of America and East West Bank.