Entertainment One gets credit

Company to receive $150 million

Despite a global credit squeeze, Canada’s Entertainment One has just received a four-year $150 million senior credit facility with a group of financial institutions led by JP Morgan. The facility leaves the Toronto-based distrib and producer poised for further growth. The other banks in the syndicate include Bank of America, Barclays and Toronto Dominion Bank.

Entertainment One CEO Darren Throop said he was particularly happy to clinch the deal given the disastrous conditions in financial markets right now.

“We’re obviously thrilled to get this facility locked down in these markets,” said Throop. “I think it’s a strong endorsement of our strategy.

Added David Shaheen, managing director of JP Morgan: “Securing this facility in the current market is a significant achievement for E1, and is testament to the success of the business.”

Throop also said Entertainment One is considering listing itself on the Toronto Stock Exchange and the London Stock Exchange, but the final decision has yet to be made. He admitted the current market conditions were making the decision more difficult.

Entertainment One announced at the same time that it had an independent third-party report on the value of its film and music library, which is set at more than $175 million. Library includes 3,700 film titles and about 15,000 music tracks.

Entertainment One has been listed on the AIM market in the U.K. since March, 2007, and has been on a spending spree in the past year. It has acquired numerous companies, including Contender in the U.K., Seville Pictures in Canada, RCV in Holland and Belgium, and, more recently, the Canuck companies Blueprint Entertainment, Barna-Alper Prods., Maximum Films and Oasis Pictures.

More Biz

  • Ellen Degeneres Racism

    Entertainment Leaders Set to Celebrate Special Olympics 50th Anniversary

    Despite a global credit squeeze, Canada’s Entertainment One has just received a four-year $150 million senior credit facility with a group of financial institutions led by JP Morgan. The facility leaves the Toronto-based distrib and producer poised for further growth. The other banks in the syndicate include Bank of America, Barclays and Toronto Dominion Bank. […]

  • Lauren Sivan

    Accuser Lauren Sivan Reacts to Harvey Weinstein's Arrest: 'He Should Be in Jail'

    Despite a global credit squeeze, Canada’s Entertainment One has just received a four-year $150 million senior credit facility with a group of financial institutions led by JP Morgan. The facility leaves the Toronto-based distrib and producer poised for further growth. The other banks in the syndicate include Bank of America, Barclays and Toronto Dominion Bank. […]

  • Netflix Reed Hastings

    Netflix Stock Closes at All-Time High, Nudging Market Cap Ahead of Disney's Again

    Despite a global credit squeeze, Canada’s Entertainment One has just received a four-year $150 million senior credit facility with a group of financial institutions led by JP Morgan. The facility leaves the Toronto-based distrib and producer poised for further growth. The other banks in the syndicate include Bank of America, Barclays and Toronto Dominion Bank. […]

  • Mario Batali

    Mario Batali's Three Las Vegas Restaurants to Close Following Harassment Allegations

    Despite a global credit squeeze, Canada’s Entertainment One has just received a four-year $150 million senior credit facility with a group of financial institutions led by JP Morgan. The facility leaves the Toronto-based distrib and producer poised for further growth. The other banks in the syndicate include Bank of America, Barclays and Toronto Dominion Bank. […]

  • Hollywood's Magic Castles Head to China

    Hollywood's Magic Castles Head to China

    Despite a global credit squeeze, Canada’s Entertainment One has just received a four-year $150 million senior credit facility with a group of financial institutions led by JP Morgan. The facility leaves the Toronto-based distrib and producer poised for further growth. The other banks in the syndicate include Bank of America, Barclays and Toronto Dominion Bank. […]

  • GWYNETH PALTROW AND BRAD PITTBRAD PITT

    Gwyneth Paltrow Says Brad Pitt Threatened to 'Kill' Harvey Weinstein Over Alleged Harassment

    Despite a global credit squeeze, Canada’s Entertainment One has just received a four-year $150 million senior credit facility with a group of financial institutions led by JP Morgan. The facility leaves the Toronto-based distrib and producer poised for further growth. The other banks in the syndicate include Bank of America, Barclays and Toronto Dominion Bank. […]

  • Is Spotify Walking Back Its Anti-Hate

    Is Spotify Walking Back Its Anti-Hate Policy?

    Despite a global credit squeeze, Canada’s Entertainment One has just received a four-year $150 million senior credit facility with a group of financial institutions led by JP Morgan. The facility leaves the Toronto-based distrib and producer poised for further growth. The other banks in the syndicate include Bank of America, Barclays and Toronto Dominion Bank. […]

More From Our Brands

Access exclusive content