Electrical Leisure broadcasts financing deal – Media Play Information

Dean Devlin

Stephanie Pranz

Los Angeles-based manufacturing and distribution firm Electrical Leisure has introduced the closure of a $100 million mortgage facility with Financial institution of America.

The five-year settlement will initially be used to broaden Electrical’s manufacturing slate to incorporate “Leverage: Redemption,” “The Ark” and “Virtually Paradise,” amongst different packages.

“That is our largest facility up to now, exemplifying Financial institution of America’s recognition of Electrical’s continued progress,” Electrical Leisure’s CFO Jeff Gonzalez mentioned in an announcement. “The credit score settlement permits us to proceed on our fast-moving trajectory.”

Electrical Leisure CEO Dean Devlin mentioned in an announcement, “With the arrival and continuation of the expansion of the streaming trade, we now have been lucky to proceed doing what we do greatest – create unique scripted packages that audiences love. ” “Not solely with our broadcast, however now with our streaming channel and platform companions, our content material is in higher demand as our distribution growth turns into far-reaching.”

Prior to now 12 months, the corporate produced three TV sequence – all streaming platforms and broadcast originals. Electrical is presently wrapping up manufacturing on its second season of “Leverage: Redemption,” a spin-off continuation of “Leverage,” considered one of Amazon freevy’s first unique exhibits. “Virtually Heaven”, which initially aired on WGNA, has been flagged for a second season of freebies and is presently in manufacturing. Plus, Electrical’s new sequence “The Ark” simply wrapped up and can initially air because the SYFY channel.

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“Financial institution of America was delighted to work carefully with the Dean and Electrical Leisure administration workforce to assist them information their future progress,” Randy Hua, Head of Leisure Industries Group at Financial institution of America, mentioned in an announcement. “Electrical has a powerful pipeline of inventive broadcast and streaming initiatives and might proceed to develop its affect by means of numerous channels.”

Electrical additionally has its personal app ElectricNow, a premium OTT linear channel and app that features packages created and bought by the corporate. It may be discovered on Roku Channel, Plex, STIRR, Native Now, Sling TV, Tivo Plus, Freevee, XUMO and Samsung.

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