Citizens provides $11M credit facility for Live Media Group Holdings

Citizens Bank this month closed on an $11 million senior secured credit facility for California-based live event media-streaming company Live Media Group Holdings.
Citizens Bank this month closed on an $11 million senior secured credit facility for California-based live event media-streaming company Live Media Group Holdings.

PROVIDENCE – Citizens Bank this month closed on an $11 million senior secured credit facility for a California-based live event media-streaming company.
Live Media Group Holdings, based in Van Nuys, Calif., is known for streaming events, including the World Series, LiveNation’s Yahoo 365 concerts and live cast question-and-answer sessions for films such as “Straight Outta Compton” and “Star Wars: The Force Awakens,” according to a press release.
Brad Sexton, CEO of Live Media, lauded Citizens’ commercial banking team in a statement.
“[The] team brought great ideas to the table and executed the transaction quickly and seamlessly,” he said.
The financing package in part will go to fund the acquisition of a Sureshot Teleproductions, a media company in Middlefield, Ohio, according to the release.
The holding group also owns, leases, operates and has equity interests in venues throughout New England, including House of Blues Boston and Mohegan Sun Arena in Connecticut.
“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.”

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