Launch investment partnership with stage musical
Producer Jonathan Sanger and financial consultant Jeffrey Sica have struck up a formal partnership to target investment opportunities in a variety of media platforms — starting with a brewing Broadway show.As the first project under the collaboration, the duo have signed on to the behind-the-music Shirelles tuner “Baby It’s You,” Floyd Mutrux’s follow-up to current Broadway offering “Million Dollar Quartet.” Sanger has been a producer on films including “Vanilla Sky,” “The Elephant Man” and the screen version of “The Producers.” Sica heads New Jersey-based Sica Wealth Management. According to Sanger, the partnership will look at all forms of media for potential hedge-fund investment opportunities. “Possibly we may be getting involved in P&A funds and a variety of film, theater and media investments,” he said. He added that the two are looking for projects that fall on the lower end of the risk spectrum in an admittedly risky field. On Broadway, for instance, an oft-cited statistic holds that only one in five productions recoups its capitalization costs. Small film projects are a possibility, with further endeavors likely to be announced following AFM next month. Like the Sun Records-set “Million Dollar Quartet,” “Baby It’s You” has the benefit of a well-known score of rock ‘n’ roll standards, in this case drawn from the hits of the Shirelles (“Be My Baby,” “Will You Still Love Me Tomorrow”). Storyline centers on Florence Greenberg, the New Jersey housewife who discovered the group and went on to launch Scepter Records. Universal Music Group and Warner Bros. Theater Ventures head the commercial producing team of “Baby It’s You,” which played the Pasadena Playhouse in late 2009. No Broadway production timeline has been confirmed.