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Indiana's Conseco Inc. Invests in Famed Magician's Restaurant Chain.(Originated from The Indianapolis Star and News)
Knight Ridder/Tribune Business News, May, 1996
May 7--Conseco Inc. is betting that magician David Copperfield can turn $20 million into an even bigger pile of dough.
The Carmel-based insurance and financial services giant has invested $20 million in Copperfield's company, LateNite Magic Inc. Conseco now owns one-third of the privately held company.
LateNite is expected to launch a chain of restaurants called Magic Underground next year. The first restaurant will open in New York's Times Square. Others will open in Europe, where Copperfield is better known than in the United States, said Ngaire Cuneo, Conseco executive vice president of corporate development.
The deal isn't unusual for Conseco, which has other entertainment enterprises, Cuneo said. Conseco, for instance, has a stake in the Hoosier...
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