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Skydance Raises $700 Million to Fund TV, Film Expansion

“Mission: Impossible – Rogue Nation” and “True Grit” producer and financier Skydance has snagged $700 million in new financing.

It plans to use the funding to grow its feature film, television and interactive businesses. The raise includes a $500 million line of credit and $200 million in equity from a consortium of existing shareholders. The new credit facility was arranged by JPMorgan Chase.

Skydance is the brainchild of David Ellison, son of billionaire Oracle Corp. chairman Larry Ellison and brother of Megan Ellison, the founder of Annapurna Pictures. Unlike his sister, who has focused intently on filmmaker-driven projects from the likes of David O. Russell and Paul Thomas Anderson, David Ellison has kept a hand firmly in the tentpole game. Past projects include hits such as “Star Trek Into Darkness” and “World War Z,” as well as disappointments like “Terminator Genisys,” which stumbled in its attempts to relaunch the cyborg franchise. The company’s 10 feature films have cumulatively grossed approximately $4 billion globally.

Upcoming films include the sequels “Star Trek Beyond” and “Jack Reacher: Never Go Back,” as well as the Gerard Butler sci-fi thriller “Geostorm” and the Jake Gyllenhaal thriller “Life.”

Skydance’s television division is producing four original series including the Lily Tomlin-Jane Fonda comedy “Grace and Frankie” and the futuristic drama “Altered Carbon” on Netflix; the planetary colonization drama “Red Mars” for Spike TV; and “Jack Ryan,” a small-screen version of the big-screen spy thrillers, for Amazon.

“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,” Ellison said in a statement.

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