Deadline.com is reporting that WWE Studios has closed a deal for a revolving credit facility worth $35 million with Bank of America Merrill Lynch.
The cash infusion will allow WWE Studios to extend and grow a partnership base that already includes Warner Bros., Lionsgate and 20th Century Fox.
“This new relationship with Bank of America Merrill Lynch gives us the opportunity to be involved in higher profile films and expand talent relationships,” said WWE Studios president Michael Luisi. “Our audience craves larger-than-life stories, and we’re looking forward to using this new facility to bring even more of those stories to the big screen.”
Randy Hua, SVP of Bank of America Merrill Lynch, said that WWE Studios is “an amazing brand with a history of creating content with fascinating characters and storylines.” He said that the new cash injection will enable WWE Studios to build on the momentum from the last several years by producing and acquiring more branded and genre films.