Entertainment Studios, the film and TV distribution company run by Byron Allen, announced on Wednesday that it’s hired Ronnie Ng as its new chief financial officer.
In addition to his typical CFO duties, Ng will serve as the company’s head of corporate development as it looks to grow.
“Ronnie Ng is an outstanding addition to our Entertainment Studios/Allen Media family,” Allen, founder and CEO of Entertainment Studios, said in a statement. “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.”
Last month, Entertainment Studios launched an international sales and distribution division, titled Entertainment Studios Motion Pictures International (ESMPI), weeks after raising $500 million in credit facilities. The company said the money raised would be used for general business purposes: productions, co-productions and acquisitions.
Ng will work out of the Entertainment Studios headquarters in Los Angeles, overseeing corporate finances, strategic investments, risk management, and data analysis for all Entertainment Studios corporate entities under Allen Media, the parent company for Entertainment Studios.
His coverage includes broadcast TV syndication, advertising sales, all eight 24-hour HD TV 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 has more than 17 years of experience in negotiating and structuring mergers and acquisitions and leveraged finance transactions within the media and entertainment industry.
Prior to Entertainment Studios, Ng spent five years at TCW Group, which manages approximately $198 billion in assets. At TCW, Ng was vice president in the Fixed Income Group, where he specialized in media and technology corporate debt and bond investing. Before joining TCW Group, Ng was executive director of Media & Communications Group with UBS Investment Bank for six years. He held similar investment banking positions at Deutsche Bank Securities and Houlihan Lokey.
Ng will report directly to Allen, and will work closely with executive VP of finance and chief investment officer, Eric Gould.