syndicate

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Syndicate

An association of individuals formed for the purpose of conducting a particular business; a Joint Venture.

A syndicate is a general term describing any group that is formed to conduct some type of business. For example, a syndicate may be formed by a group of investment bankers who underwrite and distribute new issues of Securities or blocks of outstanding issues. Syndicates can be organized as corporations or partnerships.Newspaper or press syndicates came into existence after the Civil War. A press syndicate sells the exclusive rights to entertainment features, such as gossip and advice columns, comic strips, and serialized books, to a subscribing newspaper in each territory. These "syndicated" features, which appear simultaneously around the United States, can generate large sums for the creators of the features and for the syndicate that sells them. Similarly, when television programs are syndicated, one station in each television market is allowed to broadcast a popular game show or rebroadcast a popular network series. A syndicated show may be televised at different times depending on the schedule of the local station. In contrast, on network television, a program is televised nationally at one scheduled time.

The term syndicate is also associated with Organized Crime. In the 1930s, the term crime syndicate was often used to describe a loose association of racketeers in control of organized crime throughout the United States. For example, the infamous "Murder, Inc." of the 1930s, which was part of a national crime syndicate, was founded to threaten, assault, or murder designated victims for a price. A member of the crime syndicate anywhere in the United States could contract with Murder, Inc., to hire a "hit man" to kill a person.

syndicate

n. a joint venture among individuals and/or corporations to accomplish a particular business objective, such as the purchase, development, and sale of a tract of real property, followed by division of the profits. A joint venture, and thus a syndicate, is much like a partnership, but has a specific objective or purpose after the completion of which it will dissolve. (See: joint venture)

syndicate

noun alliance, association, cartel, combine, company, consortium, council, federation, guild, league, machine, merger, organization, partnership, pool, ring, societas, union
See also: act in concert, alliance, amalgamate, association, business, cartel, coalition, combine, committee, compact, confederacy, consortium, corporation, enterprise, federation, institute, merger, organization, partnership, pool, trust
References in periodicals archive ?
As with insurance professionals, the banking syndicate manager work to ensure members get the right services, at the right price, from the right bank.
Assuming the banking syndicate activity is managed on a treasury management system, the members will experience improved internal controls in addition to the significant financial impact.
The collective banking activity of a banking syndicate makes it possible to effectively implement a treasury management system and a TMS makes the implementation of a daily bank account reconciliation process an efficient alternative.
During this loan, the banking syndicate was also led by Standard Chartered and included BNP Paribas, Bank of Tokyo-Mitsubishi UFJ, Natixis and Deutsche Bank.
Our existing banking syndicate, with the addition of new banks, has affirmed its confidence in CN's solid financial performance.
It was also announced that the Company and its banking syndicate, as well as the holders of the senior unsecured notes, were in the process of negotiating certain amendments to the applicable agreements to increase the specified thresholds, effective the end of the third quarter in order to cure this non-compliance.
We have a good relationship with our banking syndicate and note holders and the successful completion of these negotiations evidences our lender's confidence in our ability to achieve our growth and profit objectives", said Colin Adamson, Chairman and Chief Executive Officer.
Cambior has already received approval from its banking syndicate.
Separately, Biovail announced today that the 13 member banking syndicate has unanimously agreed to extend Biovail's existing $600 million credit facility term to March 25, 2004.
CFM Corporation ("CFM") announced today that it has amended and extended the credit agreement covering its current credit facilities with its banking syndicate.
The amended credit facility was arranged through the Bank of Montreal as lead bank and administrative agent for the banking syndicate consisting of the Bank of Montreal, the Bank of Nova Scotia, the Bank of Tokyo-Mitsubishi (Canada), the National Bank of Canada and the Royal Bank of Canada.