Wall Street Journal: Goldman going Hollywood?

Scott Walterschied a partner with Skadden Arps will be running Goldman Sachs Media Fund it was announced today at Goldman’smorning press conference.  Insiders estimate the fund’s worth at half a billion dollars.  Many on Wall Street doubt Goldman’s intention of running a fund to support Hollywood movies and media.  Calvin Thurmond of JP Morgan pointed out that Goldman has over 25 lawsuits against production companies and studios in Hollywood.  Hollywood insiders have been quiet on the issue adapting to more of a wait and see policy.  However many Investment Companies, Banks and Fortune companies believe that Goldman is looking to buy a studio and sell it off to a foreign investment group.  “It is like the corporate raiders of the mid 80’says Thurmond, the only thing that has changed is the players”.  Staff Writer Wall Street Journal Online

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About goldmanmedia

Scott is the Director at Goldman Sachs Media Fund. Formerly he was the Executive Vice President of 10 time Emmy Award Winning Motion Picture and Television production company, Wonderland Productions. He also headed up the Motion Picture fund "The Pinnacle Group" which comprised of many Wall Street financiers and corporate executives along with Palms Casino owners George, Gavin Maloof and Trump President Nicholas Ribis. There he financed projects with Academy Award Winning Producer Laura Bickford, New Line Cinema, Lions Gates, Propaganda Films, Interscope Films and Sony Pictures. After the success of the Fund, Scott took a position as Executive Vice President for Mike Medavoy's Ionic Worldwide, a division of Phoenix Pictures. Some of his credits include the TV series "Second Chances" with Cube-Vision and "The Middle" with Trifecta Entertainment. He received "Special Thanks" for Director Guy Ritichie's RocknRolla and Snatch, starring Brad Pitt. He also received a "Thanks" credit for The Game starring Michael Douglas and Sean Penn. Scott started his career as an attorney at the Chicago offices of the global law firm Sidley Austin. At Sidley he represented clients including boxing promoter Don King , the Trump Corporation, Airbus and Viacom
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