Events. James Murdoch’s new investment vehicle, Lupa Systems is leading a consortium who have agreed to buy a majority stake in the NY based Tribeca Film Festival, founded by Robert de Niro and owned by Madison Square Garden Company and other investors. Financial terms of the transaction were not disclosed. The company was valued at $45m in 2014 when Madison Square bought its 50% stake.
Lupa will be aiming to expand the business which was initiated in the wake of 9/11 and has attracted 5m attendees. “When Tribeca was founded after 9/11, they brought together a tremendous creative community to embark on a mission-drive business with civic impact,” Murdoch said, before vowing to “grow that mission”.