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Comapny Town

Time Warner, ENIC to Team on Shops, Eateries

April 08, 1998|MARLA MATZER

Entering the crowded field of "eatertainment," Time Warner's Warner Bros. studio has partnered with London-based investment firm ENIC to finance and develop Warner Bros.-themed restaurants internationally. In addition, ENIC has agreed to acquire an 80% interest in Warner Bros.' 10 U.K.-based "studio stores." The transaction is valued at about $49 million in cash and ENIC stock.

Dan Romanelli, president of Warner Bros. Worldwide Consumer Products, said the first restaurant is expected to open in 18 months; no location has been named. He declined to elaborate on the specifics of the restaurant concept, but said Warner Bros.' Looney Tunes characters (including Bugs Bunny and Daffy Duck) represent only a small part of a much broader entertainment theme. Warner Bros. has a vast library that includes films, music and DC Comics.

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