Sometimes a party is just a party, and other times this type of event gets a little extra attention, as was the case at GE Capital’s recent party at the NAB. While some just saw it as an opportunity to network with industry colleagues (and watch a little basketball), others looked at the event as GE Capital signaling its interest in potentially doing more lending in the broadcasting space.
When the market turned several years ago, many lenders pulled out of broadcast lending, no longer seeing it as an area of focus. GE Capital, on the other hand, maintained a long term approach and stayed committed to both Radio and TV Broadcast lending. So when performance in the broadcasting industry rebounded, our patience and commitment paid dividends, as we have completed 18 transactions for our Radio & TV Broadcasting customers over the last two years. Broadcasting is a healthy and sustainable industry, with a great business model that generates ample free cash flow, and GE Capital hopes to remain an integral part of it.
GE Capital was back at NAB this year with our signature event because we wanted to have the opportunity to thank our customers for continuing to trust GE with their financing and for recognizing the added value that GE can deliver to transactions. We also wanted to celebrate the activity we saw over the last few years as well as the activity we see on the horizon. The future is looking brighter, with liquidity returning and with it, some lenders that left the sector not too long ago. They see what we have seen all along…broadcast financing is a great business to be in.
With NAB behind us, it’s time to look ahead to 2013 and beyond… the story that RBR-TVBR.com ran last week was correct … “GE likes the broadcast industry, and we want to continue to participate in working with it.”
— Ray Shu, Managing Director & Media Team Leader/GE Capital – Telecom, Media & Technology Group
Ray leads his team in providing senior secured financing to middle market companies and sponsor-based activities in various Media sectors. Ray joined GE in October 2000, where he has held several senior positions including Managing Director, Risk, charged with overall underwriting and portfolio management responsibilities for the business unit’s loan portfolio in the media sector. As a senior vice president, Ray also co-founded GE’s Tech Lending Group, focusing on debt investments for early stage, venture-backed technology companies. Prior to GE, Ray was with Bank of America Commercial Finance’s Healthcare Leveraged Finance Group, as well as with the Franchise Finance Group at NationsBank, N.A. Also, Ray was with Price Waterhouse – Corporate Finance Group where he focused on the execution of buy and sell-side mandate transactions, capital raising, IPO advisory and bankruptcy restructuring services.