JPMorgan Launches Entertainment Advisory Unit

More activity at the intersection of Hollywood and Wall Street. JPMorgan Chase has hired former Sony Pictures Entertainment senior executives Alan Levine and Ken Lemberger (both entertainment lawyers) to head their newly-formed entertainment advisory unit, the LA Times reports today. Called JPMorgan Entertainment Advisors, the group "will counsel studios, production companies, new-media outfits and investors on financial and strategic issues." JPMorgan's Entertainment Industries Group head John Miller will oversee the unit, which will also include JP Morgan entertainment banker David Shaheen. Per the LA Times:

Miller, one of the deans of Hollywood banking, has worked on financing deals with virtually all the major studios and independent film companies.

Miller said the group could go beyond the traditional role of arranging debt for companies by raising capital through private placements and stock offerings, helping restructuring businesses, advising on management issues and securing production, distribution and licensing arrangements.