David Ellison's Skydance raises $350 mil
Funding would support slate of four or more movies per yearDavid Ellison's Skydance Prods. has lined up $350 million in equity financing and debt funding to support a slate of four or more movies per year.
Ellison's father, Oracle chief Larry Ellison, is among those contributing to the equity component of the finance package. Based in Santa Monica, Skydance was founded four years ago.
J.P. Morgan Chase is lead lender on a four-year, $200 million revolving credit facility lined up as part of the funding, which follows Skydance's inking a first-look deal with Paramount.
The company's bank deal represents just the third significant entertainment-finance syndication this year, following a $1 billion funding for Village Roadshow and $125 million arrangement for Participant Pictures. J.P. Morgan led those syndications as well.