Jonathan Tisch, chairman of Loews Hotels, is backing Walnut Hill Media, a new media media investment fund that will also get involved on the creative side. The New York-based firm will invest in traditional media (film, TV, etc.) as well as online media. Its initial investments are a bit of a mix: it’s made a “multi-million” dollar investment in Tribeca Enterprises, the parent of the Tribeca Film Festival, which has also done some interesting work in digital film distribution. Other Walnut Hill projects include a TV judge show and a co-production with PlumTV, a resort town TV network with some blue-chip backers. In addition to Tisch (whose family name adorns the arts school at NYU), principals at Walnut Hill include Jeffrey Stewart (also from Loews) and Jen Farley, previously of CBS News. Neither the size of the investments nor the size of the firm itself have been disclosed. Release.

• Resort TV Network Plum TV gets $20 Million From Freston, Pittman, Jimmy Buffett