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)

References in periodicals archive ?
An Armenian crime ring allegedly bribed athletes to lose matches then bet on the results.
Summary: A shadowy businessman from the Lebanese diaspora was sentenced in Paris Wednesday to seven years in prison for being a lead member of a crime ring that laundered Colombian drug money through luxury jewelry.
According to Othman, the involved international crime ring smuggles Cocaine after turning the drug into liquid and fill it in liquor bottles to pass security checkpoints.
According to the Paphos police spokesman, Michalis Ioannou, the 30-year-old is believed to be a member of a crime ring and had nine arrest warrants against him.
Bussmann (http://www.wsj.com/articles/money-laundering-ring-dismantled-in-germany-where-cash-is-still-king-1459452480) spoke to the Wall Street Journal following the dismantling of an international crime ring that had laundered at least 5 million euros, or $5.7 million, out of Germany.
ROMA (CyHAN)- A former kingpin of an Italian crime ring was arrested by Brazil's Federal Police on Tuesday after 31 years on the run, local media reported.
(2004/15) The Guard Film4, 9pm Award-winning comedy starring Brendan Gleeson as a crooked policeman, who unenthusiastically joins forces with a prickly FBI agent (Don Cheadle) to take down an international crime ring bringing a drug shipment to Connemara.
Whether it's a deliberately misstated water damage claim on a homeowners' policy or a sophisticated international crime ring for stolen autos, insurance fraud is driven by a combination of greed, stealth and exploitation.
New York, Aug 6 ( ANI ): Russian crime ring has gathered a large number of stolen internet credentials that include 1.2 billion user name and password combinations and more than 500 million email addresses, say security researchers.
At least 26 people have been arrested after a state and federal investigation into a crime ring that stretched across Oregon, Nevada and California, the Jackson County Sheriff's Office reported.
Whether it's a deliberately misstated water-damage claim on a homeowners' policy or a sophisticated international crime ring for stolen autos, insurance fraud is driven by an amalgam of greed, stealth and exploitation.

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