Advanced Television

Electric Entertainment closes $100m with BoA

August 11, 2022

Electric Entertainment, the Los Angeles-based production and distribution company, has announced the closing of a $100 million (€96.7m) loan credit facility with Bank of America. The five-year agreement will be initially used for Electric’s expanding production slate that includes  Leverage: Redemption, The Ark, and Almost Paradise, among other programmes. The announcement was made by Dean Devlin, CEO of Electric Entertainment.

Jeff Gonzalez, CFO of Electric Entertainment, commented “This facility is our largest to date, exemplifying Bank of America’s recognition of Electric’s continuous growth. The credit agreement allows us to continue on our quickly moving trajectory.”

Devlin, CEO of Electric Entertainment, added: “With the advent and continuation of the streaming industry’s growth, we have been lucky to continue to do what we do best — create original scripted programs that audiences love. With not only our broadcast,  but now our streaming channel and platform partners, our content is in higher demand as our distribution expansion has become far-reaching.”

“Bank of America was pleased to work closely with Dean and the Electric Entertainment management team to help them chart their future growth,” said Randy Hua, Head of the Entertainment Industries Group at Bank of America. “Electric has a strong pipeline of creative broadcast and streaming projects and can continue to increase their influence through diverse channels.”

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