According to New York Post gossip column Page Six, the Brothers and Sisters star is teaming up with Colony Capital chief executive Tom Barrack to create a multimedia venture backed with $500 million.
The new company will have a portfolio within California-based Colony to invest in sports teams, distribution firms, television networks or online properties.
“It’s pretty far along,” said a source close to the deal.
On Tuesday, Lowe and Barrack were spotted at dinner in London with Flavio Briatore, Guiseppe Cipriani and David Blaine at the C London restaurant to discuss the deal.
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