Netflix Production Supplier Seized by Creditors
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5 Articles
Netflix production supplier seized by creditors
A production equipment provider to studios including Netflix and WBD has been seized by creditors after defaulting on debt, underscoring the financial woes afflicting the entertainment industry. BlackRock’s private credit arm HPS Investment Partners and specialist distressed debt investor Oaktree Capital are among creditors that took control of MBS Group, which provides film equipment to […]
BlackRock's HPS and Brookfield's Oaktree seize control of Hollywood production firm, erase $900M in debt
The takeover highlights the growing influence of private credit in Hollywood, reshaping industry dynamics amid evolving production economics. The post BlackRock’s HPS and Brookfield’s Oaktree seize control of Hollywood production firm, erase $900M in debt appeared first on Crypto Briefing.
A supplier of production equipment for film studios was taken over by its creditors after a default on its debt, the Financial Times learned. The private credit branch of BlackRock, HPS Investment Partners, as well as the expert on the haircut debt Oaktree Capital, are among the group of creditors that took control last week of MBS Group, according to people close to the file. Previous owners of the group, Hackman Capital Partners and Affinius C…
BlackRock-backed HPS and Oaktree take control of Hollywood production supplier MBS
Private credit investors HPS Investment Partners and Oaktree Capital Management have taken control of MBS Group after the production equipment supplier defaulted on its debt, highlighting the mounting pressure on businesses tied to Hollywood’s prolonged slowdown, according to a report by the Financial Times. The report cites unnamed people familiar with the transaction as revealing that the lenders, along with other creditors, assumed ownership …
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