Daily News: November 8, 2013

Wells Fargo Provides $10MM Facility to Kitara Media

Kitara Media announced it closed on a new three-year credit facility with Wells Fargo Capital Finance. The transaction provides up to a $10 million revolving line of credit scheduled to mature in November 2016.

“We are delighted that a major financial institution such as Wells Fargo supports our business plan,” said Bob Regular, Kitara Media’s Chief executive officer. “The digital media industry is undergoing transformative growth. Our new credit facility means that we can rapidly expand our relationships with our customers who want video advertising solutions across web, social and mobile platforms.”

“At Wells Fargo, we are pleased to provide this credit facility and assist Kitara Media in realizing its goals and objectives,” said Patrick Gurin, vice president of Loan Originations at Wells Fargo Capital Finance. “We look forward to building a long-term relationship with Kitara Media.”

Kitara Media is a digital media company offering video, display and mobile strategies.