Numerous American industries are being battered by lower-cost competition from abroad. But the U.S. entertainment sector is poised to profit amid the onslaught say Hollywood executive Jeff Berg and Wall Street investor Suhail Rizvi. Berg chairman of International Creative Management talent agency has made his career in Hollywood; Rizvi head of a private equity firm recently invested (along with Merrill Lynch) about $100 million in ICM. But Berg and Rizvi’s partnership rests on clear-eyed strategic reasoning not a shared fascination with the glitter. ”The production of media may go to other places but the content will still be owned by U.S. companies and that’s where the value lies ” Rizvi says. He and Berg spoke last month at the inaugural meeting of the Wharton undergraduate media and entertainment club.
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