Merv Griffin Firm to Invest in Real Estate
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Merv Griffin, creator of the hit game shows “Jeopardy!” and “Wheel of Fortune,” is taking a spin at investment banking.
Griffin said Tuesday that he would form a Beverly Hills-based real estate investment-banking firm called Griffin & Co., which would structure joint ventures and raise equity and debt capital for owners and developers.
“This is another way of doing what I’ve loved doing all my life: bringing together talented people who know how to give outstanding performances,” said Griffin, who first won fame as a singer and then hosted the Emmy award-winning “The Merv Griffin Show” for 24 years.
It will not be the entertainment mogul’s first venture into real estate -- his holdings have included such properties as the Beverly Hilton, which he sold in 2003; and Resorts International in Atlantic City, N.J.; and Paradise Island Bahamas, which he sold in 1996.
Over the last 20 years, Griffin has bought and sold 17 radio stations, six casino resorts and riverboats and 17 hotels. He sold Merv Griffin Enterprises, including the game shows, to Coca-Cola Co. in 1986 for $250 million.
Griffin will be chairman of the new entity. Lawrence Cohen, chief executive of the Griffin Group, will serve as president and CEO. Randall Zisler was named managing director and chief information officer.
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