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Tribeca Founders Consider ‘Observer’ Purchase

The three founders of the Tribeca Film Festival - Robert De Niro, Meet the Fockers producer Jane Rosenthal and her husband, venture-capitalist Craig Hatkoff - are considering purchasing Arthur Carter’s New York City weekly, the Observer, writes New York Magazine.

“Nothing is signed on paper, but they’re definitely looking at it, and definitely looking at it very seriously,” said one insider. Many potential buyers have been scared off by the Observer’s estimated loses, said to amount to $2 million a year. However, the speculation suggests that DeNiro and company hope to benefit from advertising synergy with the Film Fest sponsors - which include AmEx, Pepsi, Sony, Nokia and L’Oreal. Also, the Observer could support Tribeca Productions projects via Talk and Miramax.