First Look, Capital Merge2 Aug, 2005 By: Brendan Howard
Capital Entertainment and First Look Media have merged. The new company is called First Look Studios.
The combined company received a $20 million infusion of convertible debt from the New York-based hedge fund Prentice Capital Management. The merger and funding closed July 29.
Capital founder Henry D. Winterstern is its CEO and co-chairman. Winterstern serves as chairman of the board for the mall-based clothing chain The Wet Seal and has served on the boards of MGM and Dick Clark Productions. Bill Lischak, First Look Media's president and COO, will continue in that capacity at the new company. First Look Media's CEO will serve as co-chairman.
“First Look's strong home entertainment operations, foreign sales arm, significant library and position in the marketplace is enhanced by Capital Entertainment's high-profile DVD properties, such as ‘American Idol' and ‘Baywatch,” Winterstern said.