01 Oct Byron Allen Announces $500M In Credit Facility For Entertainment Studios Expansion
Byron Allen’s Entertainment Studios said it has raised $500 million in credit facilities organized by Deutsche Bank Securities, Jefferies Financial Group, Brightwood Capital Advisors and Comerica Bank. The loan was syndicated to a large group of lenders, who collectively manage more than $500 billion.
Allen distributes film and TV, with 41 shows on the air, and is owner of eight 24-hour HD television networks — including the recently purchased The Weather Channel for a reported $300 million. Recent film releases have includes 47 Meters Down, Chappaquiddick and Hostiles. The $500 million in credit facilities will be used for general business purposes, production, co-productions and the acquisition of other corporations.