Inside Move: Regency boss sells his soles

Milchan helped rescue Puma, reaped millions in sale

But will the action heroes in New Regency movies sport any fewer Puma sneakers?

Regency boss Arnon Milchan’s Monarchy Enterprise Holdings has reaped an estimated $676 million from the sale of a 39% controlling stake in German athletic-shoe maker Puma.

Milchan helped rescue the floundering company in 1996. Since then, publicly traded Puma has tripled its market value and now ranks as Europe’s No. 3 sporting-goods company.

There was no immediate word on what Milchan or his Regency Enterprises might do with the sports-boots booty. But initial press reports of Monday’s Goldman Sachs-managed offering by Monarchy suggested Regency will continue to help Puma place its products in Hollywood projects.

Puma track suits and trainers display company’s leaping-cat logo are regularly visible on Regency TV productions like “Malcolm in the Middle,” and Milchan lost no time after his initial investment making sure the company’s movies featured prominent Puma placements as well. By 1998, Meg Ryan was scampering around in Puma sneakers in “City of Angels.”