For nearly 100 years, tens of thousands of children have spent their summers at Mohawk Day Camp in Westchester County, New York, participating in activities such as swimming, archery, crafts, dancing and theater.
However, a shocking bankruptcy has put the camp’s future in jeopardy, along with dozens of other day camps and sleepover camps throughout the northwestern United States.
A pair of brothers surrounded the camps, accumulating debts along the way. Their holding company and all affected camps filed for Chapter 11 earlier this year, just as the kids were scheduled to be sent for the summer (you can read more about what happened here).
But with Mohawk facing an uncertain future, a surprising guardian has stepped up to save the camp and keep it alive for future generations: the CEO of Warner Bros. Television. Discovery David Zaslav.
According to bankruptcy filings, Zaslav, through his holding company Grandview Ventures, made a $68 million bid to buy Mohawk Day Camp and Mohawk Country Day School, the preschool it also operates.
Zaslav’s Grandview Ventures has struck a deal with Simad Holdings for the private school and camp, according to a court document filed Wednesday. The agreement includes approximately 39 acres in Westchester County, a $250,000 stadium, and a performing arts center, among other equipment and infrastructure.
The stalking horse bid, which sets the minimum price for the asset, will be tested at auction. The deal includes a breakup fee of $2 million and up to $680,000 in expense reimbursements if a competing bidder wins, with an August 28 deadline.
A Warner Bros. spokesperson says: Discovery: “This is a personal family investment that reflects our lifelong belief that summer camp can be a wonderful part of a child’s development, and Mohawk’s history as a successful camp experience for many children, including our own.”
To be clear: Zaslav won’t be running summer camp anytime soon. This is a family investment, not an operational investment.
In fact, Zaslav’s children (all now adults) have a connection, having attended Camp Mohawk when he was an NBC executive and living in Rye Brook.
Now, of course, Zaslav is a Hollywood titan, running a company that includes Warner Bros. Movie studio, HBO, CNN (where one of these kids worked, before leading it), and other assets.
