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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

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)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
References in periodicals archive ?
A DST syndication is a private placement of interests in a Delaware statutory trust to retail investors including [section]1031 exchange investors.
A relatively simple loan syndication might involve a single (albeit sizeable) revolving line of credit, with borrowings tied to a borrowing base formula (such as receivables or inventory) and lenders sharing interest and fees pro-rata based on their respective commitments.
Besides understanding the new mix of lenders in the equipment finance space, CFOs of middle-market companies need a firm grasp of the syndication process.
Syndications should not be massively over-subscribed otherwise borrowers may suspect that the pricing is too rich.
Our own bank's activity suggests that most middle market companies have little experience with syndications and are surprised by the ease with which these transactions can be conducted.
92-1, which is an established source of GAAP for income recognition from syndication activities--efforts to directly or indirectly sponsor the formation of limited partnerships, trusts, joint ventures or entities acquiring interests in real estate by raising funds from investors.
Rashad Al Musafir, expressed delight at the over-subscribed syndication. He thanked the participating banks and looked forward to further strengthening the relations with each of them over the coming years.
Qatar-based Barwa Bank has announced that it has hired a head of syndications, Reuters has reported.
Earlier, Katon was managing director and group head of the commercial syndications business and head of origination for the company's broker-dealer subsidiary, Regions Securities LLC, which he will continue to lead in addition to his new role.
"The successful syndication of a Dh3 billion facility during volatile market conditions and a tightening loan market is an excellent testament to the credit worthiness of du and the partnership formed between WestLB and mashreq," said Richard Hill, head of global loan syndications & debt placement, EMEA, WestLB.