Skydance Gets $700 Million to Grow TV, Film, Interactive Businesses

SANTA MONICA: Skydance Media has completed a significant round of new financing in the amount of $700 million, which it will use to grow and expand its feature film, television and interactive businesses.

The financing includes a $500 million line of credit and $200 million in equity from a consortium of existing shareholders. With the $700 million recapitalization, Skydance plans to expand its ongoing business operations, including the production of both feature films and TV series as well as to pursue potential new acquisitions and upcoming product out of Skydance International.

Financing for the transaction was provided by a syndicate of banks and institutional investors led by J.P. Morgan Chase.

“We appreciate the incredible support that Skydance continues to receive from J.P. Morgan Chase, our bank group and our investors. It is a testament to the immense amount of work and focus that our entire team has contributed to the business over the last few years,” said David Ellison, the founder and CEO of Skydance Media. “As we move into this next phase of expansion, we look forward to working with our highly valued stable of artists and strategic partners to grow the Skydance brand on a global basis.”

“This funding is indicative of the underlying strength of Skydance Media, a well-managed and operationally strong company that has already achieved a great deal and is now well positioned for future growth,” commented David Shaheen, the managing director of the entertainment industries group for J.P. Morgan Chase. “We are thrilled to have helped David Ellison and his team secure the new capital that will allow them to fully realize Skydance’s potential.”

“This significant capital infusion will permit us to achieve a number of Skydance’s near-term business goals, including aggressively augmenting our feature film and television slates and pursuing several exciting new opportunities in gaming and virtual reality,” added Jesse Sisgold, the chief operating officer of Skydance Media.