Paula Deen Cooks Up $75 Million Deal With Investor
Mark Memmott on February 13th, 2014
The answer to the question “can Paula Deen recover?” from the uproar over her past use of the “N-word” is apparently yes.
“A recently formed new company, Paula Deen Ventures, said it has received an investment of between $75 million and $100 million from Najafi Cos., a private-equity company led by Jahm Najafi, who owns BMG Music Service and the Book-of-the-Month Club,” The Wall Street Journal writes.
The Atlanta Journal-Constitution reminds readers that:
“Deen’s celebrity status took a hit last year after she acknowledged in a deposition that she had used racial slurs in the past. The admission, revealed during a lawsuit filed by a former employee, led to Deen’s Food Network show being canceled and the loss of dozens of product endorsements, including Smithfield Foods.
“Deen, whose supporters were just as vocal as her critics, has apologized repeatedly, calling the language ‘totally, totally unacceptable.’ ”
The discrimination suit that led to the revelation about the N-word was eventually dropped.
E!Online writes that “Steven Nanula, chief executive of Paula Deen Ventures, revealed the company is in talks with TV networks, retail chains and other possible partners. The Food Network, which fired Deen in June 2013, is not being considered. Paula Deen Ventures declined to name which companies it has contacted.”
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