The Tornante Company Explained
The Tornante Company, LLC is an American privately held investment firm founded in 2005 and owned by former Paramount Pictures and The Walt Disney Company CEO Michael Eisner. Tornante invests in, acquires, and operates media and entertainment companies.
When Eisner was bicycling around Italy, he saw a signpost that inspired the name Tornante for his company. Tornante means "hairpin turn" in Italian.
History
The Tornante Company was founded by Michael Eisner in 2005, after he left The Walt Disney Company.[1] In 2006, Tornante formed Vuguru production company with backing from Rogers Media of Canada.[2] The company made a $12.5 million venture funding round investment in Veoh in April 2006. Tornante purchased Team Baby Entertainment, a maker of infants and toddlers sports-related DVDs in June 2006. On March 5, 2007, the company and Madison Dearborn Partners purchased Topps for $385 million.[1] Tornante planned to have Team Baby merge with Topps.[3]
In June 2015, Tornante Co. formed Tornante-Sinclair LLC, a TV production company, with Sinclair TV Group.[4] Eisner's company signed in November 2015 a worldwide distribution deal with Universal Pictures to release the firm's self-funded slate of films.[5] In August 2017, Tornante closed on the purchase of the Portsmouth Football Club for an undisclosed deal;[6] however, BBC reported that Eisner had offered £5.67 million[7] "and will invest an extra £10m."[8]
Holdings
Current investment holdings of the firm include:
- AirTime[9]
- Clique Media (now Clique Brands)
- Metaverse
- Omaze
- Portsmouth Football Club
- Rad
- Spark Neuro
- TaskRabbit
- Tornante-Sinclair LLC (50%) a joint venture TV production company with Sinclair TV Group for court shows, comedy programs, game shows and talk shows in first-run syndicated [4]
- Tornante Television, Los Angeles based subsidiary overseeing Tornante-Sinclair via Tornante co-president, Lauren Corrao. The unit also produces the adult animated comedies BoJack Horseman, Tuca & Bertie and Undone, and in conjunction with Trifecta Entertainment and Media the syndicated court reality show Judge Faith.[4]
- Vuguru (2006–) production company with backing from Rogers Media of Canada[2]
Former holdings of the firm include:
- Team Baby Entertainment (June 2006) a maker of infants and toddlers sports-related DVDs,[1] which merged with Topps[3]
- Veoh (stake) April 2006[1] –April 7, 2010
Notes and References
- News: Former Disney Chief Adds Topps to His Collection. August 18, 2017. DealBook. New York Times. March 6, 2007.
- News: Tartaglione. Nancy. Mipcom: FremantleMedia To Distribute Vuguru Content Outside North America. August 18, 2017. Deadline. October 8, 2012.
- News: Arango. Tim. Away From the House of Disney, Eisner Finds a Home Online. August 18, 2017. The New York Times. November 22, 2008.
- News: Mirabella. Lorraine. Sinclair Broadcast forms venture with former Disney CEO Eisner to create TV shows. October 15, 2015. Baltimore Sun. June 29, 2015.
- News: Fleming. Mike Jr.. Michael Eisner Returns To Features With Universal Pictures Distribution Deal. August 18, 2017. Deadline. November 13, 2012.
- News: Clarke. Stewart. Former Disney Boss Michael Eisner Seals Deal for English Soccer Team. August 18, 2017. Variety. August 3, 2017.
- Web site: Michael Eisner's Tornante Completes Acquisition of English Soccer Club Portsmouth Hollywood Reporter. 2020-08-31. www.hollywoodreporter.com. August 3, 2017.
- News: Eisner completes Portsmouth takeover. en-GB. BBC Sport. 2020-08-31.
- News: Michael Eisner's Tornante Co. Teams With Sinclair Broadcast for New Syndicated Joint Venture. August 18, 2017. The Hollywood Reporter. en.
