Raine Group, Marquee Sports Eye Industry Acquisitions Through SPAC Pact
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variety.comCynthia Littleton Business EditorRaine Group is joining the SPAC pack.The investment bank that has been a player in media and entertainment for the past dozen years has teamed with Marquee Sports, owner of the Chicago Cubs regional sports network, in a special purpose acquisition company that aims to acquire firms valued at $1 billion or more.Marquee Raine Acquisition Corp.
raised $373.8 million last month, giving it a war chest that has to be spent within two years or the money is returned to shareholders.
Although Marquee is closely tied to the Cubs and the sports world, Marquee Raine is looking for ripe prospects in entertainment.
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