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| ::''This article is about the investor involved |
::''This article is about the investor who has been involved in financing Hollywood film libraries. A different David Bergstein is the spokesperson for the ]'' | ||
| {{Use mdy dates|date=April 2014}} | {{Use mdy dates|date=April 2014}} | ||
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| | birth_date = {{birth-date and age|August 9, 1962}} | | birth_date = {{birth-date and age|August 9, 1962}} | ||
| | birth_place = New York City | | birth_place = New York City | ||
| | years_active = |
| years_active = 1994 – present | ||
| | occupation = |
| occupation = Investment banker | ||
| }} | }} | ||
| '''David Rafael Bergstein''' (born 1962) is an American businessman |
'''David Rafael Bergstein''' (born 1962) is an American businessman. | ||
| ==Early life and education== | ==Early life and education== | ||
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| ==Career== | ==Career== | ||
| In 1994 Bergstein co-founded Graybox |
In 1994 Bergstein co-founded Graybox, which later merged into Cyrano Group, a private equity and consulting firm where he currently serves as CEO.<ref name=huffingtonpost/> David Bergstein's career has involved M&A, finance and advisory work focused on special situations.<ref name="LAT2008">{{cite news|url=http://articles.latimes.com/2008/aug/25/business/fi-thinkfilm25|title=A tough Hollywood debut|first1=Claudia |last1=Eller |first2=Josh |last2=Friedman |date=August 25, 2008|work=]|accessdate=March 19, 2014}}</ref> | ||
| David Bergstein is a financier who specializes in locating, securing financing for, and restructuring companies which are undervalued, distressed, and have complicating or litigious factors in their history. He is known for his talent in accurately predicting trends and recognizing opportunities to restore and reposition business in order to maximize value.<ref>http://www.huffingtonpost.com/david-bergstein/</ref> Past transactions span dozens of industries ranging from food to technology, also including the film industry. | |||
| In 2003, Bergstein and business partner ] loaned money to ], a film production company headed by ]. When the company went bankrupt, Bergstein and Tutor became owners of dozens of Franchise's films. By 2006 they had also acquired ] and ], in the process becoming major players in the independent film sector.<ref name="LAT2008"/> | |||
| Mr. Bergstein has been one of the most prolific buyers of independent film libraries. Bergstein negotiated and arranged the for purchase of ] from Disney in 2010 for $660 million, which included the rights to more than 700 library titles and was the most notable transaction in independent film in the last decade.<ref>{{cite news |first=Lauren A. E. |last=Schucker |title=Hollywood Outsiders to Buy Miramax |date=July 31, 2010 |work=] |url=http://online.wsj.com/news/articles/SB10001424052748703999304575398471332427574 |accessdate=March 26, 2010 |archiveurl=http://webcache.googleusercontent.com/search?q=cache:LNsY05oRZCMJ:online.wsj.com/news/articles/SB10001424052748703999304575398471332427574 |archivedate=March 25, 2014 |deadurl=no}}</ref> Bergstein has been a financier or producer on numerous films, including most recently serving as executive producer on "In the Heart of the Sea," directed by Ron Howard.<ref>http://www.imdb.com/name/nm1520491/</ref> | |||
| In March 2010, fourteen creditors attempting to force the five companies controlled by Bergstein and Tutor into ] were granted an emergency motion by a court to have an interim trustee appointed to oversee the companies.<ref name="LATmar18-10">{{cite news |first=Ben |last=Fritz |url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2010/03/creditors-attempting-to-force-bergstein-into-bankruptcy.html|title=Creditors attempting to force David Bergstein's companies into bankruptcy (updated)|date=March 18, 2010|work=]|accessdate=March 25, 2014}}</ref><ref name="LATmar30-10">{{cite news |first=Ben |last=Fritz |url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2010/03/court-appoints-trustee-to-oversee-bergsteins-companies.html|title=Court appoints trustee to oversee Bergstein's companies|date=March 30, 2010|work=]|accessdate=March 19, 2014}}</ref> Capitol Films and ThinkFilm were formally declared bankrupt by a Federal judge in October 2010,<ref name="Wrap2010">{{cite news |first=Brent |last=Lang |url=http://www.thewrap.com/movies/article/bergsteins-thinkfilm-capitol-films-declared-bankrupt-21507|title=Bergstein's ThinkFilm, Capitol Films Declared Bankrupt |date=October 6, 2010|work=]|accessdate=March 25, 2014}}</ref><ref name="LAT3">{{cite news|url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2011/02/david-bergsteins-three-remaining-companies-forced-into-.html|title=David Bergstein's three remaining companies forced into bankruptcy|first=Ben |last=Fritz|date=February 9, 2011|work=]|accessdate=March 19, 2014}}</ref> and Bergstein's remaining three companies—R2D2, CT-1 Holdings and Capco—in 2011.<ref name="LAT3"/><ref name="Wrap2011">{{cite news |first=Brent |last=Lang |url=http://www.thewrap.com/movies/column-post/judge-sends-david-bergsteins-remaining-companies-bankruptcy-24608|title=Bergstein's Remaining Companies Pushed into Bankruptcy |date=February 9, 2011|work=]|accessdate=March 25, 2014}}</ref> One of the creditors that had forced Bergstein's companies into bankruptcy, Aramid Entertainment Fund, had its claims against Bergstein's companies dismissed in 2012 — a judgment that was upheld by the ] in 2013.<ref name="Law360-2013">{{cite news |first=Sindhu |last=Sundar |work=] |title=Bergstein Beats Aramid's $190M Suit in NY Appeals Court |date=April 30, 2014 |url=http://www.law360.com/articles/437373/bergstein-beats-aramid-s-190m-suit-in-ny-appeals-court |accessdate=April 10, 2014 |archiveurl=http://webcache.googleusercontent.com/search?q=cache:lLZCo70-HbMJ:www.law360.com/articles/437373/bergstein-beats-aramid-s-190m-suit-in-ny-appeals-court |archivedate=March 19, 2014 |deadurl=no}}</ref> In 2012 the former in-house counsel for Capitol Films who had left the company to work for Aramid, was successfully sued by Bergstein for breach of fiduciary trust and malpractice and ordered to pay $50.5 million in damages to Bergstein.<ref name="DLH">{{cite web|date=August 22, 2012|title=Capitol’s David Bergstein Awarded $50M+$500K In Lawsuit Against Ex-Counsel|url=http://www.deadline.com/2012/08/film-financier-david-bergstein-awarded-49-5m-by-jury-in-lawsuit-against-ex-counsel/|publisher=Deadline Holywood|language=|last=Patten|first=Dominic|accessdate=23 April 2014}}</ref><ref name="Law36004">{{cite web|date=August 21, 2012|title=Bergstein Wins $49.5M From Atty For Forced Bankruptcies|url=http://www.law360.com/articles/371927/bergstein-wins-49-5m-from-atty-for-forced-bankruptcies?related_articles=1|publisher=Law360|language=|last=Randles|first=Jonathan|accessdate=23 April 2014}}</ref><ref name="Law36002">{{cite web|date=August 13, 2012|title=Ex-Bergstein Atty Admits Targeting Companies For Bankruptcy|url=http://www.law360.com/articles/369458/ex-bergstein-atty-admits-targeting-companies-for-bankruptcy|publisher=Law360|language=|last=Winnick|first=Zach |accessdate=23 April 2014}}</ref><ref name="Law36003">{{cite web|date=August 14, 2012|title=Ex-Bergstein Atty Said She Would Destroy Docs, Jury Hears|url=http://www.law360.com/articles/369878/ex-bergstein-atty-said-she-would-destroy-docs-jury-hears|publisher=Law360|language=|last=Randles|first=Jonathan |accessdate=23 April 2014}}</ref> | |||
| ⚫ | Bergstein works with several charitable organizations, including the Grossman Burn Foundation and as a board member of the Sheriff's Youth Foundation, a youth program run by the ].<ref name=sheriffsyouthfoundation>{{cite web|url=http://sheriffsyouthfoundation.org/three-new-members-join-foundation-board/|title=Three New Members Join Foundation Board|publisher=Sheriff's Youth Foundation of Los Angeles County|accessdate=March 19, 2014}}</ref> Bergstein dedicated the Conejo Jewish Academy's adult education program to Bergstein's father, naming the program "Leonard Bergstein Jewish Academy."<ref>http://www.jewishacademy.com/2014Winter/detail.asp?ID=90</ref> He contributes to the '']'', the '']'' and the ''Algemeiner''.<ref name=huffingtonpost/><ref name=timesofisrael>{{cite web|url=http://blogs.timesofisrael.com/reducing-americas-defense-budget-would-be-a-mistake/|title=Reducing America's defense budget would be a mistake|work=]|accessdate=March 19, 2014}}</ref><ref name=algemeiner>{{cite web|url=http://www.algemeiner.com/author/david-bergstein/|title=David Bernstein|publisher=The Algemeiner|accessdate=March 19, 2014}}</ref> | ||
| In 2014, another creditor, Screen Capital International, had its claims rejected by a federal judge. Lawyers successfully argued that it was not a legitimate creditor because it had purchased the claims from another entity.<ref name="Law360-2014">{{cite news |first=Maria |last=Chutchian |work=] |title=Screen Capital's Claims Axed From Bergstein Bankruptcies |date=March 10, 2014 |url=http://www.law360.com/articles/517185/screen-capital-s-claims-axed-from-bergstein-bankruptcies |accessdate=March 25, 2014 |archiveurl=http://webcache.googleusercontent.com/search?q=cache:X37hA1y21bwJ:www.law360.com/articles/517185/screen-capital-s-claims-axed-from-bergstein-bankruptcies |archivedate=March 21, 2014 |deadurl=no}}</ref> | |||
| Bergstein also took an advisory role in the sale of ] in 2010 to an investor group that included his partner, Ron Tutor. The purchase, for $660 million, included the rights to more than 700 library titles.<ref>{{cite news |first=Lauren A. E. |last=Schucker |title=Hollywood Outsiders to Buy Miramax |date=July 31, 2010 |work=] |url=http://online.wsj.com/news/articles/SB10001424052748703999304575398471332427574 |accessdate=March 26, 2010 |archiveurl=http://webcache.googleusercontent.com/search?q=cache:LNsY05oRZCMJ:online.wsj.com/news/articles/SB10001424052748703999304575398471332427574 |archivedate=March 25, 2014 |deadurl=no}}</ref> In 2012, Bergstein sued the owners of Miramax alleging they had reneged on paying him a $6.1 million fee and a 3.33 percent stake as compensation for his role in the acquisition;<ref name="LAT3-13">{{cite news |url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2012/04/david-bergstein-miramax.html |title=David Bergstein sues Miramax owners |first=Ben |last=Fritz| date=April 9, 2012 |work=] |accessdate=March 26, 2014}}</ref> the litigation ended two weeks later when Bergstein and Miramax reached a settlement.<ref name="Fritz (2012-4-24)">{{cite news |url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2012/04/miramax-and-david-bergstein-settle-lawsuit.html |title=Miramax and David Bergstein settle lawsuit |first=Ben |last=Fritz| date=April 24, 2012 |work=] |accessdate=April 11, 2014}}</ref> | |||
| ⚫ | Bergstein |
||
| ==Selected filmography== | |||
| The films Bergstein has been involved in include:<ref name="wcp">{{cite news|url=http://www.variety.com/profiles/people/main/1224660/David%20Bergstein.html?dataSet=1|title=I Variety Profile – David Bergstein|work=], 2009|archiveurl=http://web.archive.org/web/20100413012109/http://www.variety.com/profiles/people/main/1224660/David%20Bergstein.html?dataSet=1|archivedate=April 13, 2010}}</ref> | |||
| *2010 – '']'' (Producer, uncredited) | |||
| *2010 – '']'' (Executive Producer) | |||
| *2010 – '']'' (Executive Producer) | |||
| *2009 – '']'' (Executive Producer) | |||
| *2008 – '']'' (Executive Producer) | |||
| *2008 – '']'' (Executive Producer) | |||
| *2008 – '']'' (Executive Producer) | |||
| *2007 – '']'' (Executive Producer) | |||
| *2006 – '']'' (Producer) | |||
| *2006 – '']'' (Producer) | |||
| *2006 – '']'' (Producer) | |||
| *2005 – '']'' (Executive Producer) | |||
| *2005 – '']'' (Executive Producer) | |||
| *2005 – '']'' (Producer) | |||
| *2005 – '']'' (Executive Producer) | |||
| *2004 – '']'' (Producer) | |||
| *2004 – '']'' (Producer) | |||
| ==References== | ==References== | ||
Revision as of 06:24, 2 March 2015
- This article is about the investor who has been involved in financing Hollywood film libraries. A different David Bergstein is the spokesperson for the Democratic Congressional Campaign Committee
| David Bergstein | |
|---|---|
| File:David Bergstein.jpgBergstein, circa 2014 | |
| Born | David Rafael Bergstein August 9, 1962 (1962-08-09) (age 62) New York City |
| Occupation | Investment banker |
| Years active | 1994 – present |
David Rafael Bergstein (born 1962) is an American businessman.
Early life and education
Bergstein was born in Brooklyn, New York and grew up with his father Leonard Bergstein, an engineering professor and Holocaust survivor. Bergstein received a BS in pre-medicine at Polytechnic Institute of New York University and attended the Benjamin N. Cardozo School of Law.
Career
In 1994 Bergstein co-founded Graybox, which later merged into Cyrano Group, a private equity and consulting firm where he currently serves as CEO. David Bergstein's career has involved M&A, finance and advisory work focused on special situations.
David Bergstein is a financier who specializes in locating, securing financing for, and restructuring companies which are undervalued, distressed, and have complicating or litigious factors in their history. He is known for his talent in accurately predicting trends and recognizing opportunities to restore and reposition business in order to maximize value. Past transactions span dozens of industries ranging from food to technology, also including the film industry.
Mr. Bergstein has been one of the most prolific buyers of independent film libraries. Bergstein negotiated and arranged the for purchase of Miramax from Disney in 2010 for $660 million, which included the rights to more than 700 library titles and was the most notable transaction in independent film in the last decade. Bergstein has been a financier or producer on numerous films, including most recently serving as executive producer on "In the Heart of the Sea," directed by Ron Howard.
Bergstein works with several charitable organizations, including the Grossman Burn Foundation and as a board member of the Sheriff's Youth Foundation, a youth program run by the Los Angeles County Sheriff's Department. Bergstein dedicated the Conejo Jewish Academy's adult education program to Bergstein's father, naming the program "Leonard Bergstein Jewish Academy." He contributes to the Huffington Post, the Times of Israel and the Algemeiner.
References
- ^ Eller, Claudia; Friedman, Josh (August 25, 2008). "A tough Hollywood debut". Los Angeles Times. Retrieved March 19, 2014.
- ^ "David Bergstein Huffington Post". Huffington Post. Retrieved March 19, 2014.
- http://www.huffingtonpost.com/david-bergstein/
- Schucker, Lauren A. E. (July 31, 2010). "Hollywood Outsiders to Buy Miramax". The Wall Street Journal. Archived from the original on March 25, 2014. Retrieved March 26, 2010.
{{cite news}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - http://www.imdb.com/name/nm1520491/
- "Three New Members Join Foundation Board". Sheriff's Youth Foundation of Los Angeles County. Retrieved March 19, 2014.
- http://www.jewishacademy.com/2014Winter/detail.asp?ID=90
- "Reducing America's defense budget would be a mistake". The Times of Israel. Retrieved March 19, 2014.
- "David Bernstein". The Algemeiner. Retrieved March 19, 2014.