Tuesday, February 27, 2024
News​Deadline: WWE Studios Gets A $35 Million Cash Infusion - Details

​Deadline: WWE Studios Gets A $35 Million Cash Infusion – Details

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Deadline reports that WWE Studios has signed a deal with Bank of American Merrill Lynch for a revolving credit facility worth $35 million. This will let WWE continue to form partnerships with studios like Warner Bros., Lionsgate and 20th Century Fox. It’s part of a new long-term growth strategy that will focus on mid-size budget film productions, similar to The Call and Oculus, as well as increase the films it acquires.

WWE Studios president Michael Luisi said: “This new relationship with Bank of America Merrill Lynch gives us the opportunity to be involved in higher profile films and expand talent relationships. 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.”

It recently launched a horror label with Gene Simmons called Erebus Pictures. Upcoming WWE Studios releases include Incarnate (starring Aaron Eckhart and featuring Mark Henry, from Blumhouse Pictures) and a sequel to Scooby-Doo! Wrestlemania Mystery starring Hulk Hogan.

Bank of America Merrill Lynch SVP Randy Hua said: “WWE Studios is an amazing brand with a history of creating content with fascinating characters and storylines. This new facility will provide WWE Studios the capacity to build on the momentum from the last several years by producing and acquiring more branded and genre films. The various platforms and global reach of both BofAML and WWE creates the perfect collaboration.“

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