{"id":582326,"date":"2023-07-11T20:00:00","date_gmt":"2023-07-11T17:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/skydance-secures-new-1b-credit-facility-with-jpmorgan\/"},"modified":"2023-07-11T20:00:00","modified_gmt":"2023-07-11T17:00:00","slug":"skydance-secures-new-1b-credit-facility-with-jpmorgan","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/skydance-secures-new-1b-credit-facility-with-jpmorgan\/","title":{"rendered":"#Skydance Secures New $1B Credit Facility With JPMorgan"},"content":{"rendered":"
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\n In a difficult credit market, David Ellison\u2019s Skydance Media<\/a> has secured a new $1 billion credit facility, giving the film and TV studio enhanced flexibility to invest in its business lines, which include a growing animation business and a recently-launched joint venture with the NFL.<\/p>\n

\n The new five year credit line replaces a 2021 $500 million revolver (which had a $1 billion option). The deal also comes less than a year after Skydance secured a $400 million investment round led by KKR, Redbird Capital Partners and CJ ENM, as well as the Ellison family (David\u2019s father Larry Ellison is the co-founder of tech giant Oracle and his sister Megan is the founder of Annapurna Pictures).<\/p>\n

\n The deal is the second major entertainment credit agreement inked by JPMorgan in the last few months as well, with the mega-bank having led an $800 million facility in Legendary Entertainment in April.<\/p>\n

\n The deal also comes amid a tumultuous year for the banking sector, where rising interest rates from the Federal Reserve have hampered the credit market. Some regional banks have also felt the pain of rising rates, most notably Silicon Valley Bank and Signature Bank (which had a robust entertainment business through its Broadway connections). The failure of those banks led some in Hollywood to question whether they should continue to lean on specialist banking partners, or consider doing more deals with larger banks like JPMorgan or City national Bank (which is owned by RBC).<\/p>\n

\n \u201cOver the past 13 years, Skydance has become an industry leader, and our focus remains on the
massive opportunity ahead of us to sustain and enhance our growth,\u201d said Skydance CFO & executive VP of Business Operations, Larry Wasserman, in a statement. \u201cWith J.P. Morgan\u2019s continued support, our forward-thinking business structure, and an unmatched network of partners, we are well-positioned to continue bringing global entertainment to new heights.\u201d<\/p>\n

\n \u201cWe\u2019re incredibly proud to build upon our longstanding relationship with Skydance Media as they
continue to grow,\u201d said David Shaheen, head of entertainment industries for JPMorgan\u2019s Corporate
Client Banking Group. \u201cThis facility and the immense support from the entertainment banking
community stand as a true testament to the strength of their business and quality content across
platforms.\u201d<\/p>\n<\/p><\/div>\n