Indie studio to expand new and current projects

Media Rights Capital has closed a five-year, $350 million revolving credit facility, providing more coin for the company to grow its film and television business.

The facility, led by JPMorgan, Comerica, Bank of America, SunTrust and Union Bank, will also provide for the indie studio to expand and develop current projects, including those under its five-year distribution deal with Universal as well as CBS sitcom “How to Be a Gentleman,” Neill Blomkamp’s “Elysium” (which Sony will distribute) and serialized Netflix political drama “House of Cards.”

MRC’s last credit facility closing was a three-year $350 million starting in 2008.

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