As Daytime Confidential reader Antonio Shanks recently said on Twitter, if it don't make dollars, it don't make sense. Prospect Park has closed financing for The Online Network (TOLN) with multi-billion dollar private equity firm ABRY Partners.
This means we won't have to worry about handicam-carrying interns following actors around Peapack, New Jersey corn fields to get footage for the new versions of All My Children and One Life to Live. No Siree, Bob. We are walking in taaaall cotton!
“We are excited to be partnering with Jeff Kwatinetz and the rest of the team at Prospect Park, and we strongly believe that they will continue to be a leader in their innovative approach to content creation,” said Brent Stone, a partner at ABRY Partners.
Stone's firm has completed over $36 billion in leveraged transactions and other private equity investments involving approximately 450 properties. I'd say Pine Valley bazillionaire Adam Chandler and Llanview tycoon Clint Buchanan would be impressed!