Entertainment Studios Secures $500M In Credit

Byron Allen’s Entertainment Studios has arranged $500 million in credit facilities that it says will be used for general business purposes, production, co-productions and the acquisition of other corporations.

The credit facilities were 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 over $500 billion.

“As we celebrate our 25th anniversary, this additional capital positions us for further investments and acquisitions,” said Byron Allen, founder/chairman/CEO of Allen Media, the parent company of Entertainment Studios. “More importantly, this group of lenders have provided us with the financial backing and capacity to increase the credit line and make large-scale acquisitions, which is a major part of our strategy going forward.”

Allen’s Entertainment Studios divisions — with approximately 650 employees — now include: broadcast television syndication, production and distribution of more than 41 television programs, eight television networks, theatrical motion picture production, acquisition and worldwide-release distribution, digital movie acquisition and distribution, OTT platforms, and global news publishing.