WWE Studios Closes $35 Million Credit Facility With Bank Of America Merrill …
May 15, 2015 - WWE
WWE Studios has sealed a understanding for a revolving credit trickery value $35 million with Bank of America Merrill Lynch. The money distillate will concede WWE Studios to extend and grow a partnership bottom that already includes Warner Bros., Lionsgate and 20th Century Fox. The studio will turn some-more assertive in a long-term expansion plan that focuses on mid-size-budget film productions — The Call and Oculus are dual examples it has done — and expanding film acquisitions.
“This new attribute with Bank of America Merrill Lynch gives us a event to be concerned in aloft form films and enhance talent relationships,” pronounced WWE Studios boss Michael Luisi. “Our assembly craves larger-than-life stories, and we’re looking brazen to regulating this new trickery to move even some-more of those stories to a large screen.”
WWE Studios, that grew out of a wrestling empire, many recently launched a new label, Erebus Pictures, with media noble Gene Simmons, that is set to financial and furnish towering fear movies. Upcoming releases embody Incarnate with Blumhouse Pictures, a Aaron Eckhart-starrer that facilities WWE’s Mark Henry, and a supplement to Scooby-Doo! WrestleMania Mystery starring Hulk Hogan. Previous pics embody a Halle Berry-starrer The Call, that featured WWE wrestling star David Otunga; a Mike Flanagan-directed Oculus; Dead Man Down starring Colin Farrell and featuring WWE Superstar Bad News Barrett; The Marine authorization featuring WWE’s John Cena, The Miz and Summer Rae; and Scooby-Doo! WrestleMania Mystery, that interconnected charcterised versions of WWE stars with a princely animation sleuths.
“WWE Studios is an extraordinary code with a story of formulating calm with fascinating characters and storylines,” pronounced Randy Hua, SVP of Bank of America Merrill Lynch. “This new trickery will yield WWE Studios a ability to build on a movement from a final several years by producing and appropriation some-more branded and genre films. The several platforms and tellurian strech of both BofAML and WWE creates a ideal collaboration.”
Negotiations were rubbed by Bradley Buchanan from WWE Studios together with Robert Wyman from Davis Wright Tremaine LLP, and by Randy Hua and Daniel Timmons from Bank of America Merrill Lynch as good as Ken Deutsch and Chris Brearton from Latham Watkins.