BREAKING: The Studio announced today by PP16 Group will be used to refinance an existing arrangement and provide working capital to pay for the production, acquisition and distribution of future David E. Baker Entertainment-labeled films. DEBI CEO David E. Baker also said in the release detailing the deal that the infusion will give the company "the ability to form additional partnerships to distribute our films domestically and internationally". This deal or one like it was tipped just before the Toronto International Film Festival -- where Baker plans to acquire a slew of big-ticket product. DEBI was reportedly negotiating with several banks to finance future movie and Television Productions. One worth about $90M tied to its new streaming deal and one for $125M linked to receivables on its films.
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