The Journal said the bank's investment is aimed at capitalizing on its franchise in Hollywood, where it has financed movies for decades.
NEW YORK (Reuters) - JPMorgan & Chase Co <JPM.N> is expected on Monday to announce plans to invest $200 million in the entertainment industry, the Wall Street Journal reported in its online edition.
The Journal said the bank's investment is aimed at capitalizing on its franchise in Hollywood, where it has financed movies for decades.
Representatives of JPMorgan could not immediately be reached for comment.
Earlier this year, JPMorgan hired former Sony Pictures executives Alan Levine and Ken Lemberger to lead a new unit called Entertainment Advisors to provide strategic and financial advice to clients within the entertainment world, the Journal said.
!ADVERTISEMENT!Sony Pictures is a unit of Japanese electronics maker Sony Corp <6758.T>.
(Reporting by Justin Grant; Editing by David Holmes)
