Byron Allen's Entertainment Studios Hires Ronnie Ng As Chief Financial Officer And Head Of Corporate Development

LOS ANGELES, Oct. 17, 2018 /PRNewswire/ -- Byron Allen's Entertainment Studios, Inc. (www.entertainmentstudios.com) one of the largest independent producers and distributors of film and television, with 41 television shows on the air, and owner of eight 24-hour HD television networks including the recently-purchased The Weather Channel for a reported $300 million, proudly announces the appointment of Ronnie Ng as Chief Financial Officer and Head of Corporate Development. Ng will work out of the Entertainment Studios headquarters in Los Angeles. Last month, Entertainment Studios announced it had secured $500 million in credit facilities for general business purposes: productions, co-productions, and acquisitions.

In his new position, Ng will manage corporate finances, strategic investments, risk management, and data analysis for all Entertainment Studios corporate entities under Allen Media, including broadcast television syndication, advertising sales, all eight 24-hour HD television networks, and digital platforms -- as well as theatrical motion picture co-productions and global distribution for Allen's theatrical and digital movie distribution divisions Entertainment Studios Motion Pictures and Entertainment Studios Digital Media.  Ng reports directly to Entertainment Studios/Allen Media Founder, Chairman, and CEO, Byron Allen, and will work closely with Executive Vice President of Finance and Chief Investment Officer, Eric Gould.

Ng has more than 17 years of experience in negotiating and structuring mergers and acquisitions and leveraged finance transactions within the media and entertainment industry. Ng comes directly to Entertainment Studios after five years at TCW Group, which has approximately $198 billion in assets under management.  At TCW, Ng was Vice President in the Fixed Income Group, where he specialized in media and technology corporate debt and bond investing. Prior to joining TCW Group, Ng was Executive Director of Media & Communications Group with UBS Investment Bank for six years. Before joining UBS Investment Bank, Ng held similar investment banking positions at Deutsche Bank Securities and Houlihan Lokey.  Ng also held positions at Arthur Andersen LLP.  Ng earned his B.S. degree from University of Illinois at Urbana-Champaign.

"Ronnie Ng is an outstanding addition to our Entertainment Studios/Allen Media family," said Byron Allen, Founder, Chairman, and CEO of Entertainment Studios/Allen Media. "Ronnie's extensive corporate and financial investment experience makes him a very strong executive joining our team as we continue to grow our global media and technology company and aggressively pursue mergers and acquisitions."

About Entertainment Studios / Allen Media LLC
Chairman and CEO Byron Allen founded Entertainment Studios in 1993. Headquartered in Los Angeles, it has offices in New York, Chicago, Atlanta, Denver, and Raleigh.  Entertainment Studios owns eight 24-hour HD television networks serving nearly 160 million subscribers: THE WEATHER CHANNEL, PETS.TV, COMEDY.TV, RECIPE.TV, CARS.TV, ES.TV, MYDESTINATION.TV, and JUSTICE CENTRAL.TV. The company also produces, distributes, and sells advertising for 41 television programs, making it one of the largest independent producers/distributors of first-run syndicated television programming for broadcast television stations. With a library of over 5,000 hours of owned content across multiple genres, Entertainment Studios provides video content to broadcast television stations, cable television networks, mobile devices, multimedia platforms, and the World Wide Web.  Our mission is to provide excellent programming to our viewers, online users, and Fortune 500 advertising partners. 

In 2015, Entertainment Studios purchased Freestyle Releasing, now called Entertainment Studios Motion Pictures, a full-service, theatrical motion picture distribution company specializing in wide release commercial content. ESMP released 2017's highest-grossing independent movie, the shark thriller 47 METERS DOWN, which grossed over $44.3 million. In 2018, ESMP also released the critically-acclaimed and commercially successful Western HOSTILES and the historic mystery-thriller CHAPPAQUIDDICK. Upcoming releases include the Keanu Reeves sci-fi thriller REPLICAS, the John Krasinski/Emily Blunt-starring animated feature ANIMAL CRACKERS, and Joe Carnahan's Mel Gibson/Naomi Watts/Frank Grillo starring action-thriller BOSS LEVEL. The digital distribution unit of Entertainment Studios Motion Pictures, Freestyle Digital Media, is a premiere multi-platform distributor with direct partnerships across all major cable, digital and streaming platforms.

In 2016, Entertainment Studios purchased TheGrio, a digital video-centric news community platform devoted to providing African-Americans with compelling stories and perspectives currently underrepresented in existing national news outlets. TheGrio features aggregated and original video packages, news articles, and blogs on topics that include breaking news, politics, health, business, and entertainment. Originally launched in 2009, the platform was then purchased by NBC News in 2010. In 2014, TheGrio founders purchased their company back from NBC News and has since tripled its traffic rate. The digital platform remains focused on curating exciting digital content and currently has more than 20 million annual visitors.

For more information, visit:
www.es.tv
www.freestylereleasing.com
www.freestyledigitalmedia.tv
www.thegrio.com

SOURCE Entertainment Studios, Inc.

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http://www.entertainmentstudios.com