Thakur
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Santa Monica, CA-based WWE Studios has closed on a revolving credit facility worth $35 million with Bank of America Merrill Lynch (BofAML). The deal comes after a multi-year successful run by the production company.
With this new arrangement, WWE Studios expects to extend and grow their partnership base, which already includes Warner Bros., Lionsgate and 20th Century Fox.
The proceeds of the facility will allow WWE Studios to execute further on its key strategy for long-term growth, increasing the number of mid-size budgets films, similar to The Call and Oculus, on its slate. The funds will also go toward the expansion of the acquisition slate.
“WWE Studios is an amazing brand with a history of creating content with fascinating characters and storylines. This new facility will provide WWE Studios the capacity to build on the momentum from the last several years by producing and acquiring more branded and genre films. The various platforms and global reach of both BofAML and WWE creates the perfect collaboration,” said Bank of America Merrill Lynch senior vice president Randy Hua.
http://www.indiantelevision.com/television/tv-channels/sports/wwe-studios-closes-35-million-credit-facility-with-bank-of-america-merrill-lynch-150516
With this new arrangement, WWE Studios expects to extend and grow their partnership base, which already includes Warner Bros., Lionsgate and 20th Century Fox.
The proceeds of the facility will allow WWE Studios to execute further on its key strategy for long-term growth, increasing the number of mid-size budgets films, similar to The Call and Oculus, on its slate. The funds will also go toward the expansion of the acquisition slate.
“WWE Studios is an amazing brand with a history of creating content with fascinating characters and storylines. This new facility will provide WWE Studios the capacity to build on the momentum from the last several years by producing and acquiring more branded and genre films. The various platforms and global reach of both BofAML and WWE creates the perfect collaboration,” said Bank of America Merrill Lynch senior vice president Randy Hua.
http://www.indiantelevision.com/television/tv-channels/sports/wwe-studios-closes-35-million-credit-facility-with-bank-of-america-merrill-lynch-150516