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Electric Entertainment Secures $100M Credit Facility, Gains More Creative Control
10 Oct
Summary
- Dean Devlin's Electric Entertainment shifts from big-budget movies to owning TV series
- Noah Wyle's "The Librarian" franchise becomes flagship for Electric, sparking new business model
- Electric secures $100M credit facility in 2022, allowing more creative freedom
Three weeks ago, Electric Entertainment, the production company founded by Dean Devlin in 2000, celebrated a major milestone in its evolution. What started as a traditional big-budget, sci-fi movie studio has transformed into a successful TV production powerhouse, thanks to a strategic shift that began in 2004.
That year, Devlin met with Michael Wright, then the senior VP of programming at TNT, who offered Devlin the opportunity to produce a TV movie on a cable budget, with the caveat that Devlin's company would own the rights. This led to the creation of "The Librarian" franchise, starring Noah Wyle, which became Electric's flagship series and sparked a new business model for the company.
