Jonathan M. Tisch Backs Walnut Hill Media, LLC — New Company Investing in Media Ventures and Developing Creative Content with Partners and Co-Investors

Business Wire, Sept 15, 2008

NEW YORK -- Walnut Hill Media, LLC, today announced its formation, a privately held company backed by Tisch.

The co-founders of Walnut Hill Media are Jonathan M. Tisch, whose role as Chairman and CEO of Loews Hotels remains the same, and Jeffrey Stewart. Stewart will serve as the company's primary managing executive. Walnut Hill Media will act as a catalyst investor for selectively evaluated media deals.

In addition to making strategic investments, Walnut Hill Media will participate in the creation, production, distribution and other utilization of film, television, on-line, and other visual and audio content. With its extensive management experience, strong relationships in business, media and government, Walnut Hill Media will provide guidance related to its investments and for its partners; the company is also well positioned to play a role in the growing branded content market.

"At Walnut Hill Media, we have a clear mission to create sustainable business relationships that further the success of all involved. We recognize that this mission can only be fulfilled when an investment is made not only in a business idea, but in people," said Jeffrey Stewart.

"We're very excited about the creation of Walnut Hill Media and what it will do in the rapidly developing media space. With Jeff's leadership, his business sense and long-standing relationships with so many talented people across different business sectors, I am confident Walnut Hill Media will do highly successful work with great partners," said Jonathan Tisch.

The company has made an initial multi-million dollar investment in Tribeca Enterprises, the parent company of the Tribeca Film Festival and related entities. This investment will be used to expand Tribeca's media activities under the Tribeca Film brand and make the brand accessible to consumers on a global level.

Walnut Hill Media has also recently invested in the greatly anticipated first-run syndicated television show, Family Court with Judge Penny, which is being produced with 44 Blue Productions and distributed by Program Partners, Inc. This partnership originated from an introduction made by William Morris Agency, the agency representing the new show.

Family Court with Judge Penny is a family court show hosted by judge and former lawyer Penny Brown Reynolds. The series features Reynolds presiding over cases where a serious breakdown in the family unit is occurring. As an impoverished child raised by a single mother, Judge Penny brings her own perspective to each family case. As a minister as well, Reynolds has a unique approach in addressing the deeper family issues from the bench. Prior to its first week on air, the series was sold in over 80% of television markets in the U.S.

Walnut Hill Media is producing, with Plum TV, additional episodes of its own television series, Beyond the Boardroom with Jonathan Tisch, a series of one-on-one conversations with America's preeminent business leaders. The show will air nationally and on Plum TV. Beyond the Boardroom is sponsored by PriceWaterhouseCoopers.

Some of Tisch's Beyond the Boardroom past guests have included Ken Chenault, Barry Diller, Ann Moore, Dick Parsons, Ian Schrager, Howard Schultz, Donald Trump and Mort Zuckerman. As a CEO, Tisch brings his own insight into the life, work and demands of those he interviews allowing for conversations that are personal, candid and thoughtful. The interviews go beyond day-to-day business, revealing something unique about each CEO and what brought them to the top of their field. Jeffrey Stewart continues to serve as an Executive Producer of the program.

What is 'Walnut Hill'?

Tisch and Stewart, both graduates of Tufts University, named the company for the 20-acre plot of land, Walnut Hill, which today makes up the heart of their alma mater's campus. The land was donated approximately 150 years ago by American businessman, Charles Tufts, who wanted to "set a light upon the Hill," at one of the highest points outside of Boston. The Tufts values of opportunity, responsibility and community will be the guiding principles of Walnut Hill Media.

About Jonathan M. Tisch

Jonathan M. Tisch is Co-Chairman of the Board and a member of the Office of the President of Loews Corporation, one of the largest diversified financial holding companies in the U.S., and is also Chairman and Chief Executive Officer of its subsidiary, Loews Hotels. As Chairman and CEO, Tisch has engineered Loews Hotels' expansion and emergence as a leading luxury hotel chain by infusing the properties with a widely praised corporate culture that places a high value on partnerships. His leadership philosophy, explored in his best-selling book, The Power of We: Succeeding Through Partnerships, provides a blueprint for achieving enduring success through partnerships that empower employees, satisfy customers, contribute to communities, and improve the bottom line. His best-seller follow-up book, Chocolates on the Pillow Aren't Enough: Reinventing the Customer Experience, nominated for a Quill Award as one of the five best business books of 2007, offers a detailed look at how the right customer experience can produce long-lasting success for any organization.