Dean Devlin’s Electric Entertainment has closed a five-year, $100-million loan credit facility with Bank of America to fund its expanding production slate that includes Leverage: Redemption, The Ar…
It’s Electric’s largest facility to date as demand for content continues strong, Devlin said. “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.
The credit agreement “allows us to continue on our quickly moving trajectory,” said CFO Jeff Gonzalez.The deal shores up Electric’s production, sales, and distribution arms for the domestic and international OTT industry and the traditional linear space.
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