Kanye West’s Yeezy, STX, New Regency received millions of dollars in PPP funding
Kanye westit’s Yeezy, STX Entertainment, New Regency and Laemmle Theaters are among the companies that have received loans from the Paycheck Protection Program, according to data released Monday by the Small Business Administration.
STX received $ 2-5 million on April 9, shortly before he announced that he would merge with the Indian Eros International. The company said it had used the funds to keep 100 jobs.
Kanye West’s clothing company Yeezy LLC also said it received $ 2-5 million and kept 106 jobs.
New Regency was approved on April 6 for a loan of $ 1 million to $ 2 million and has retained 50 jobs.
Village Roadshow also said it received $ 350,000 to $ 1 million and retained 26 jobs. FilmNation Entertainment also received $ 350,000 to $ 1 million.
The Upright Citizens Brigade reported two separate loans of $ 350,000 to $ 1 million each, one in New York and one in Los Angeles, retaining 160 jobs in total.
The Gersh agency said it received $ 5-10 million and kept 250 jobs. Agency for the Performing Arts got $ 2-5 million on April 3, keeping 100 jobs. Sports agent Scott Boras received $ 1 million to $ 2 million. Verve Talent and Literary Agency said it received $ 350,000 to $ 1 million and kept 68 jobs.
Several movie companies, which were closed due to the virus, also said they received the loans. Laemmle Theaters received $ 350,000 to $ 1 million, retaining 75 jobs, the data shows. Chinese Theater Holdings, associated with TCL Chinese Theater, also received $ 350,000 to $ 1 million. Film Forum in New York also received between $ 350,000 and $ 1 million. Three Alamo Drafthouse sites in Arizona – Alamo Tempe, Alamo Chandler and Alamo Gilbert – received three separate loans shortly before going bankrupt.
Several small television and film production companies also received the money. Asylum entertainment received $ 1 million to $ 2 million and used the funds to keep 82 jobs, the data shows. Bron Studios also received $ 1-2 million on April 8. Keshet Studios also received between $ 350,000 and $ 1 million, retaining 13 jobs, according to the data. Voltage Pictures received from $ 150,000 to $ 350,000, retaining 11 jobs.
The American Film Institute also said it received $ 2-5 million on April 5 and kept 307 jobs.
Judd Apatow’s production company, The Apatow Company, received $ 150,000 to $ 350,000. Young Turks, home of commentator Cenk Uygur, said they received $ 1 million to $ 2 million. Stoopid Buddy Stoodios, the animation company, raised $ 350,000 to $ 1 million.
Several major Hollywood PR firms have also taken PPP money. Among them, Slate PR, Hiltzik Strategies and The Lede Company, all of which received between $ 350,000 and $ 1 million.
PPP loans are intended for small businesses, typically those with fewer than 500 employees. Variety reported in May, Avid Technology, the maker of the industry-leading editing software, received a $ 7.8 million PPP loan, when it had 1,400 employees and a market cap of $ 250 million.
Dolphin Entertainment, the parent company of 42West and other public relations firms, also revealed that it received $ 2.1 million in PPP loans.