Nike's Knight Becomes Majority Shareholder Of Vinton Studios
Created 10/31/2002 - 00:00
Philip H. Knight, co-founder of Nike, Inc., has become the majority shareholder of Portland, Oregon-based Vinton Studios after making a financial investment in the company. The amount of the investment was undisclosed. In addition, Knight will join Vintons board of directors. "Phil Knights investment and board involvement is a tremendous boost to our strategic plan to take Vinton Studios to the highest competitive level in both entertainment and commercial production," said Vinton CEO and president Jeff Farnath. Although Knight will join Vintons seven-member board, he will not be a member of the companys management team or involved with daily decision making. Will Vinton will continue on the board and also continue his role as a producer and director within the studios entertainment division. There is no business connection between Vinton Studios and Nike, and Knight will continue to be Nikes chairman, CEO and president. Knights personal investment in Vinton Studios was made via an investment company in which he is the principal. Knight has been a minority shareholder in Vinton Studios since 1998.