The Madison Square Company has purchased a 50 per cent stage in Tribeca Enterprises - owners of the film festival co-founded by Robert De Niro in the wake of the September 11 terrorist attacks - for $22.5 million.

Robert De NiroRobert De Niro Co-Founded the Tribeca Film Festival in 2003

According to Business Week, the investment valued Tribeca at $45.5 million and MSG will have the opportunity to gain a majority ownership over time.

Continue reading: MSG Company Buys 50% of De Niro's Tribeca Film Festival for $22.5 Million