The $ 500 million the credit facilities will be used for general commercial purposes, production, co-productions and the acquisition of other companies. Credit facilities have been arranged 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 more than 500 billion dollars.
“As we celebrate our 25th anniversary, this additional capital positions us for further investments and acquisitions,” said Byron Allen, Founder / President / CEO of Allen Media LLC, the parent company of Entertainment Studios, Inc. “Most importantly, this group of lenders has provided us with the financial support and the ability to expand the line of credit and complete large-scale acquisitions, which is a major part of our strategy for the future. “
The divisions of Allen’s Entertainment Studios – which employ approximately 650 people – now include: television syndication, production and distribution of over 41 television programs, eight television networks, motion picture production, acquisition and distribution worldwide distribution, digital film acquisition and distribution, OTT platforms and global news publishing – making Entertainment Studios one of the world’s largest privately held media and technology companies. Entertainment Studios is 100% owned by Byron Allen, who started the business from his dining room table 25 years ago.
About Entertainment Studios / Allen Media LLC
President and CEO Byron Allen based Entertainment studios in 1993. Based in Los Angeles, she has offices in new York, Chicago, Atlanta, Denver, and Raleigh. Entertainment Studios has eight 24-hour HD television networks serving nearly 160 million subscribers: THE WEATHER CHANNEL, ANIMALS.TV, COMEDIE.TV, RECIPE.TV, CARS.TV, ES.TV, MYDESTINATION.TV, and JUSTICE CENTRAL.TV. 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 programs for television stations. With a library of over 5,000 hours of content across multiple genres, Entertainment Studios delivers video content to television stations, cable television networks, mobile devices, multimedia platforms and the World Wide Web. Our mission is to deliver great programming to our viewers, online users and Fortune 500 advertising partners.
In 2015, Entertainment Studios purchased Freestyle Releasing, now called Entertainment Studios Movies, a full-service motion picture distribution company specializing in mass market commercial content. ESMP released the highest-grossing independent film of 2017, the shark thriller 47 METERS DOWN, which grossed over $ 44.3 million. In 2018, ESMP also released the critically acclaimed and commercially successful Western. HOSTILES and the historical mystery thriller CHAPPAQUIDDICK. Upcoming releases include sci-fi thriller Keanu Reeves REPLICAS, the John Krasinski /Emily blunt-with an animated feature film ANIMAL CRACKERS, and Joe Carnahan’s Mel Gibson/Naomi Watts with action thriller LEVEL OF THE BOSS. Entertainment Studios Motion Pictures’ digital distribution unit, Freestyle digital media, is a leading multiplatform distributor with direct partnerships across all major cable, digital and streaming platforms. Capitalizing on a robust infrastructure, a proven track record and a seasoned sales team, Freestyle Digital Media is a true hotbed for independent films.
About The Weather Channel / Local Now
For over 35 years, The weather channel has been the leader in severe weather coverage, providing the most comprehensive analysis of any media and the only national source for 24 hour storm coverage. For seven consecutive years, Harris Poll has ranked The Weather Channel as “TV News Brand of the Year”. With trusted meteorologists who analyze, forecast and report the weather, his expertise is unmatched. Engaging with fans and providing content to fuel their fascination with all things weather is central to the network’s mission. With the recently launched community platform, weloveweather.tv, the network has created a two-way dialogue with fans, building an ongoing relationship with those who have a passion for the weather. Local now is a streaming service that is changing the way Americans access information about their communities. Powered by The Weather Channel and other leading content partners, Local Now delivers real-time, hyper-local content on weather, traffic, sports and lifestyle. With unique technology that transmits localized information to hundreds of markets across United States, Local Now provides the same information seen in a 30- to 60-minute local news segment, to suit viewers’ own schedules and in a fraction of the time. Local Now is available on Roku, SlingTV, YouTube TV, fuboTV, and other major OTT platforms.
In 2016, Entertainment Studios purchased The Grio, a video-centric digital news community platform dedicated to providing African Americans with compelling stories and perspectives currently under-represented in existing national media. TheGrio offers aggregated and original video packages, news articles and opinion pieces on topics such as breaking news, politics, health, business and entertainment. Originally launched in 2009, the platform was later purchased by NBC News in 2010. The digital platform remains focused on curating exciting digital content and currently has over 20 million annual visitors.
SOURCE Entertainment Studios, Inc.