NORWALK, Conn.--(BUSINESS WIRE)--GE Commercial Finance's media and communications business has renamed itself Media, Communications & Entertainment (formerly Global Media & Communications), reflecting its rapidly growing focus on and portfolio of entertainment industry customers.
Under the leadership of recently-appointed President and CEO, Michael Chen, GE's Media, Communications & Entertainment business will expand its product and service offerings in entertainment areas including film, programming, digital content, video games, sports, leisure, and resorts, while continuing to drive growth in media and communications, all across the world.
For over 10 years, the group has provided media and communications companies with a dedicated team serving broadcasting, publishing, cable, and telecom industries, among others. In recent years, as entertainment companies have embraced new communication technologies to deliver content to audiences, their need for financing supported by industry expertise in these areas has grown. The GE group's expanded focus and re-branding is a progressive step toward meeting the needs of this evolving media marketplace.
"With the convergence of the media, communications, and entertainment industries, what better way to fortify GE's commitment to this entire sector than to reflect it in our new name?" explained new CEO Michael Chen. "Entertainment is a natural expansion for us. Our customers are looking for us to finance their growth in the digital media and entertainment industries and benefit from our relationship with NBC Universal, a strategic partnership that enables us to bring one-stop financing, distribution, and content solutions to our clients."
Entertainment industry financings currently represent for 25% of GE -- Media, Communications & Entertainment's $8 billion portfolio of assets.
About GE Commercial Finance -- Media, Communications & Entertainment
With nearly $8 billion in assets and offices in Atlanta, Chicago, Hong Kong, London, Los Angeles, New York, Norwalk and San Francisco, the Media, Communications & Entertainment business is a global strategic partner to the media, communications & entertainment industries and the technologies that enable them We bring GE's full resources and financial strength to each relationship, while delivering industry expertise and flexible financing solutions that maximize stakeholder value. For more information, please visit www.geMCE.com.
About GE Commercial Finance
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $230 billion and is headquartered in Norwalk, Connecticut. GE (NYSE: GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's website at www.ge.com.