National City Media Finance, a division of National City Commercial Capital (NC4), has entered a financing partnership with Bexel, the video operations arm of Vitec Broadcast Services to provide custom financing programs and ancillary services to the broadcast and media industries.
The new financing program will allow Bexel to offer its clients' bundled solutions that offer both equipment and services. The companies said there are long and short-term options; and payments can be spread over the life of the technology to economically position monthly costs to align with monthly revenues or savings.
In the past, broadcast financing has been just another means to acquire equipment with no value assigned to that equipment at the end of the financing term, according to Vitec Chief Technology Officer Jerry Gepner. But, he said, this partnership is different and offers broadcasters new options they didn't have before.
"By working together with National City Media Finance, we can offer financial products that are tailored to specific capital schedules or project cash flows, as well as a variety of return, disposal or upgrade options. Bexel also can provide wrap-around services, including equipment installation, maintenance and seasonal repurposing. As a result, our customers can overcome the capital challenges they are facing as technology cycles shrink, therefore substantially lowering their overall net cost of equipment ownership," Gepner said.
National City Media Finance is solely focused on financial services for the U.S. media and entertainment industry. National City Commercial Capital is a subsidiary of National City Corp.
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