Byron Allen’s Entertainment Studios Inc., secures $500 million in credit facilities

(PRNewswire) – Byron Allen’s Entertainment Studios, Inc., one of the largest independent producers and distributors of film and television, with 41 television shows on the air, and owner of eight 24-hour HD television networks – including the recently-purchased The Weather Channel for a reported US$300 million – proudly announces credit facilities for all corporate holdings and enterprises.

The US$500 million in credit facilities 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, Inc., Jefferies Financial Group, Brightwood Capital Advisors, and Comerica Bank. The loan was syndicated to a large group of lenders, who collectively manage over US$500 billion.

“As we celebrate our 25th anniversary, this additional capital positions us for further investments and acquisitions,” said Byron Allen – Founder, Chairman and CEO of Allen Media LLC, the parent company of Entertainment Studios, Inc.

“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, 8 television networks, theatrical motion picture production, acquisition and worldwide-release distribution, digital movie acquisition and distribution, over the top (OTT) platforms, and global news publishing – making Entertainment Studios one of the largest privately-held media and technology companies in the world.

Entertainment Studios is 100 percent owned by Byron Allen, who started the company from his dining room table 25 years ago.

About Entertainment Studios / Allen Media LLC: Chairman and CEO Byron Allen founded Entertainment Studios in 1993. Headquartered in Los Angeles, it has offices in New York, Chicago, Atlanta, Denver, and Raleigh. Entertainment Studios owns eight 24-hour HD television networks serving nearly 160 million subscribers.

The company also produces, distributes, and sells advertising for 41 television programs, making it one of the largest independent producers/distributors of first-run syndicated television programming for broadcast television stations. With a library of over 5,000 hours of owned content across multiple genres, Entertainment Studios provides video content to broadcast television stations, cable television networks, mobile devices, multimedia platforms, and the World Wide Web. Our mission is to provide excellent programming to our viewers, online users, and Fortune 500 advertising partners.

In 2015, Entertainment Studios purchased Freestyle Releasing, now called Entertainment Studios Motion Pictures (ESMP), a full-service, theatrical motion picture distribution company specializing in wide release commercial content. ESMP released 2017’s highest-grossing independent movie, the shark thriller “47 METERS DOWN“, which grossed over US$44.3 million.

In 2018, ESMP also released the critically-acclaimed and commercially successful Western “HOSTILES” and the historic mystery-thriller “CHAPPAQUIDDICK“. Upcoming releases include the Keanu Reeves sci-fi thriller “REPLICAS“, the John Krasinski/Emily Blunt-starring animated feature “ANIMAL CRACKERS“, and Joe Carnahan’s Mel Gibson/Naomi Watts starring action-thriller “BOSS LEVEL“. The digital distribution unit of Entertainment Studios Motion Pictures, Freestyle Digital Media, is a premiere multi-platform distributor with direct partnerships across all major cable, digital and streaming platforms. Capitalizing on a robust infrastructure, proven track record and a veteran sales team, Freestyle Digital Media is a true home for independent films.

Source: Entertainment Studios, Inc.