Providence, RI Citizens Bank has closed on an $11 million senior secured credit facility for Live Media Group Holdings, a premier live event media streaming company. The financing was used in part to fund the acquisition of Sureshot Teleproductions, based in Middlefield, Ohio.
Live Media streams events such as the World Series, LiveNation’s Yahoo 365 concerts and the studio movie premiers and live cast question-and-answer sessions for films such as “Straight Outta Compton,” “Bridge of Spies” and “Star Wars: The Force Awakens.”
“We enjoyed working with the Citizens Commercial Banking team on this deal,” said Brad Sexton, chief executive officer of Live Media Group Holdings.“Lisa Maass and the Citizens team brought great ideas to the table and executed the transaction quickly and seamlessly.”
“Live Media Group has an excellent business operation,” said Lisa Maass, president of Citizens Bank, Connecticut. “We are very pleased to be able to help the Live Media management team achieve their strategic and financial goals and we look forward to working with them in the future.”
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $135.4 billion in assets as of September 30, 2015. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle?market companies, large corporations and institutions. In Consumer Banking, Citizens helps its retail customers “bank better” with mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank branches in 11 states in the New England, Mid?Atlantic and Midwest regions. Citizens also provides mortgage lending, auto lending, student lending and commercial banking services in select markets nationwide. In Commercial Banking, Citizens offers corporate, institutional and not?for?profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance.
Live Media Group Holdings is the parent company of Live Media Group, a leading provider of turn-key live broadcast production services; Live Mobile Group, a leading provider of mid-size HD trucks and control room equipment; and nowlive, a revolutionary interactive video experience controlled by the consumer and accessible on any screen or device. Together, these divisions provide true end-to-end production support for media and entertainment, music, sports, eGaming, and corporate events.