Fortress Investment Group led the $200 million in new capital commitments, in the form of a five-year loan, for New Regency’s film and TV production plans, the companies announced this morning.
The “overwhelming support” from Fortress and existing lenders “further strengthens our position to seize new and exciting opportunities moving forward,” New Regency founder Arnon Milchan says.
J.P. Morgan Securities Managing Director David Shaheen, whose firm arranged the loan, adds that the investment “clearly validates the confidence that the financial community has in New Regency and their ability to execute their business strategy. The entertainment sector continues to enjoy a strong demand from bank and institutional investors and this capital raise positions the Company for continued growth and success.”
New Regency has a close alliance with Fox. Its productions have included 12 Years A Slave and Birdman, and sitcoms Malcolm In The Middle and The Bernie Mac Show.