Cannes: Electric Entertainment Closes $20M Production Facility for 'Librarians'
Dean Devlin's copmpany has now closed over $75 million in financing with First Republic Bank over the past three years.
Dean Devlin's Electric Entertainment has closed a $20 million production facility with First Republic Bank to finance the second season of the hit TNT show The Librarians.
In February, the Turner-owned cable network renewed the fantasy drama for 10 episodes. Spun off from the cabler's TV movie of the same name, Librarians stars Rebecca Romijn, Christian Kane, Lindy Booth, John Kim and John Larroquette, as well as featuring Noah Wyle. Production on the second season is slated to start in June.
All told, Electric has closed over $75 million in financing with First Republic over the past three years, which it has used to grow its television and film productions, as well as its worldwide sales arm. Electric is at the Cannes film market selling Mercy Street, the new Ridley Scott-produced PBS Civil War historical drama.
Electric's film slate at Cannes includes The Wannabe, which premiered at the 2015 Tribeca Film Festival and stars Patricia Arquette, Vincent Piazza and Michael Imperioli.
“First Republic Bank has been an excellent partner these past three years as we have expanded our business. They understand all the complexities of both television and feature film production, and their knowledge of foreign sales has helped structure debt facilities that work for us,” said Electric chief financial officer Jeff Gonzalez.