'Hollywood loves a comeback story, as long as you ask for redemption, and I don’t know if that is Mr. Cohen’s style. '
The pandemic has forced the shutdown of TV and film productions while live shows have been canceled or postponed. Talent agencies including WME, CAA, UTA and ICM Partners have undertaken severe cost-cutting measuressuch as layoffs, furloughs, hour reductions or salary cuts. In July, CAA said it was laying off 90 agents and furloughing 275 staffers.
Range Media also represents a shift for Cohen, whose net worth Bloomberg estimates is $10.1 billion. Long heralded as the most successful trader of his generation, the venture appears to be his first major entertainment investment. Until now, Point72 has maintained four areas of focus: artificial intelligence, financial services, enterprise technology and healthcare.The third of eight children of a garment manufacturer father and piano teacher mother, Cohen grew up in Great Neck, N.Y.
him for insider trading in connection with RCA shares bought before General Electric acquired the company. Cohen was never charged. Cohen converted SAC Capital to Point72 Asset Management, a vehicle to invest his own wealth. As of July, Point72 had $17.2 billion assets under management.
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