NORWALK, Conn.--(BUSINESS WIRE)--June 29, 2004--GE Commercial Finance's Global Media & Communications business announced that it has provided $15 million in senior debt financing for CurtCo Robb Media, LLC. The proceeds were utilized to refinance existing debt and for other general corporate purposes. The transaction closed on June 25.
CurtCo Robb Media is the publisher of 28-year old international luxury lifestyle authority Robb Report, as well as The Robb Report Collection, Robb Report Motorcycling, Robb Report Home, and Robb Report Vacation Homes. CurtCo Robb Media is affiliated with CurtCo Media Labs, the management services company led by William J. Curtis, which has successfully acquired, launched, and/or sold more than 30 titles over the past 17 years.
GE Commercial Finance was the sole lender and administrative agent for the financing. Weston Presidio, TD Capital Communications Partners, and management comprise the ownership of the company.
"We view this transaction as a small step in a long, multi-tiered relationship with a financial institution who understands our business and shares our vision," said Bill Curtis, president and CEO, CurtCo Media. "GE's Global Media & Communications team offers the industry knowledge and market commitment that are essential ingredients to this kind of relationship."
"We believe that our demonstrated experience with financing publishing platform companies will assist the company in achieving its future growth and development plans," said David Harrington, senior vice president, GE Commercial Finance Global Media & Communications. "We are pleased to have the opportunity to be part of CurtCo Robb's future."
About GE Commercial Finance Global Media & Communications
With over $6 billion in assets and offices in Atlanta, Chicago, Delhi, London, New York, Norwalk, and San Francisco, Global Media & Communications represents a "one-stop" source for the comprehensive range of GE's lending and other structured finance services offered to the media, communications, and technology industries. Key segments include radio and television broadcasting, cable, entertainment, movie theatres, outdoor advertising, publishing, technology, towers, wireless, and wireline. GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $220 billion and is headquartered in Stamford, Connecticut. General Electric (NYSE: GE) is a diversified technology, media and financial services company dedicated to creating products that make life better. For more information, visit the company's website at www.ge.com.
About CurtCo Robb Media
CurtCo Robb Media (CRM) is operated by CurtCo Media Labs, which, since 1987, has operated as a developer of publishing businesses. Over that period, the company has acquired or launched more than 30 publications that address clearly identified vertical niches, creating powerful brands that lead their respective markets. With offices in New York, Malibu, and Boston, CurtCo Media Labs is parent to a family of publications that are uniquely targeted to the world's most affluent readers, including Robb Report, The Robb Report Collection, Robb Report Home Entertainment, Robb Report MotorCycling, Robb Report Vacation Homes, Robb Report Home, Worth, and CurtCo's Digital TV. Additional information can be accessed at www.curtco.com.
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CONTACT:
GE Commercial Finance
Ned Reynolds, 203-229-5717
or
TorranceCo
Jim Marren, 212-786-6133
Jeff Wilson
GE Capital Corporate Finance
[email protected]
1-203-749-6340