"This facility is a vote of confidence from the financial community that heralds the strength of MRC’s balance sheet, management team, business model and talent and distribution partners,” said Marni Wieshofer, MRC’s SVP of Corporate Development and M&A. “In a credit climate that on its surface has completely shut down, this financing proves that there is money available to strong companies operating with sound business strategy and deliberation. The first close was oversubscribed as participating banks realized MRC’s distinctive ability to create and monetize content."

“In less than a year, against a backdrop of debilating labor unrest in the entertainment industry and an economy that has been shaken from core capital providers to consumers, MRC has initiated production on 8 major movies, 10 television programs across the major network and cable outlets, 5 digital content campaigns, undertaken the CW Sunday night programming, and entered into a long-term international output alliance,” commented Co-CEO’s Satchu and Wiczyk. “We want to thank JP Morgan Chase, Comerica Bank, and our blue-ribbon syndicate for closing so quickly in the current economic environment and positioning MRC for an even brighter future.”

Joining JP Morgan Chase and Comerica the syndicate includes Bank of America, Union Bank, Citibank, Royal Bank of Scotland, C.I.T., USBank, City National Bank and First California Bank. In addition to Wieshofer, the new facility was orchestrated for MRC by Scott Tenley, VP and Head of Legal Affairs and Jaime Rigal, VP Structured Finance and Operations. Michael Chapnick of Morgan, Lewis & Bockius served as outside counsel for JPMorgan Chase and Comerica, Marissa Román and Steven Fayne of Akin Gump were outside counsel for MRC on the transaction.