Paula Deen Raised At Least $75 Million For A Comeback

Source: Hillary Dixler / Eater

Are you ready to see a whole lot of Paula Deen again? The beleaguered ex-Food Network star has raised between $75 million and $100 million for her new company Paula Deen Venturesthe Wall Street Journal reports. The investment came from the Phoenix-based private equity company Najafi Cos., owned by Jahm Najafi of BMG Music Service and the Book-of-the-Month Club. A representative from Paula Deen Ventures says the company is currently in talks with undisclosed “TV networks, retail chains and other possible partners,” though Food Network says they are not in talks with Deen. Fun.

Najafi tells the WSJ that the plan is to move Deen away from “a pure licensing model, in which she sells her likeness and expertise to others.” That’s probably a decent strategy considering the millions of dollars she lost in endorsement deals after a public relations nightmare last Summer. A depositionin a now-dismissed lawsuit was leaked in which Deen admitted to using racial slurs. Najafi also says that he doesn’t see the investment as much of a risk: Subscriptions to Paula Deen Magazine have reportedly “risen more than 40% in the past year” while sales of Deen’s Springer Mountain Chickens have reportedly “grown by 35% in the past two quarters.”

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  • P DeGraphenreed

    Isn’t it something how ‘her people’ rushed to support her. Wouldn’t it be grand if we did that too!

  • Pat Hill

    Good for her. Not going to condemn her for the rest of her life just
    because she use the “N” word. There are worst situations in society than
    the “N” word like Jordan Davis case and other cases in that matter. You
    can’t stop people from saying the “N” word even if it’s wrong. If
    rappers and other media out puts are saying it frequently known that
    there is a high percentage of majority of whites listening; you realize
    what is acceptable to us is what they think is acceptable in that nature
    of how we say it. Should they have moral sense to not use it; of
    course. But if we keep encouraging it; then the whole issue surrounding
    the use of the “N” word is pointless. Yes, it’s a compliment of
    enlightenment to us but in reality is just a degrading word. Like
    Micheal Vick, she is trying to seek redemption and forgiveness even if
    it requires her to have some financial help. In reality, you can’t be a
    nation of religion if you truly doubt the words love and forgive.

  • Sieben713

    doesn’t surprise me , she is slicker than a greased pig and her support base is made up of the kind of people that would keep her afloat regardless of the circumstances