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National City Media Finance and Bexel Broadcast Services Announce Financing Partnership Agreement
CINCINNATI"” August 8, 2006"” National City Media Finance, a division of National City Commercial Capital (NC4), today announced a financing partnership with Bexel, the video operations arm of Vitec Broadcast Services. National City Media Finance and Bexel will provide custom financing programs and ancillary services to the broadcast and media industries. The new financing program will offer Bexel clients longer term financing options in addition to traditional short term rentals of equipment and technology. Complete bundled solutions that offer both equipment and services are included. In addition, payments are spread over the useful life of the technology to economically position monthly costs to align with monthly revenues or savings. "Traditionally, broadcast financing has been just another means to acquire equipment"”with little or no value assigned to that equipment at the end of the financing term," said Jerry Gepner, Vitec's chief technology officer. "Our partnership with National City Media Finance enables us to offer broadcasters a choice of financing options that has never existed before." Gepner continued, "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." National City Media Finance, a division of National City Commercial Capital, is solely focused on financial services for the U.S. media and entertainment industry. National City Commercial Capital is a subsidiary of National City Corporation (NYSE: NCC) and is one of the largest bank-affiliated leasing companies in the country. "As the leading broadcast and media service provider in the world, Bexel has an exceptional reputation for innovation and customer support," said Bob Rinaldi, executive vice president at National City Commercial Capital. "We created a unique financing model that addresses the current market economics and changing budget and cash flow realities of the broadcast and entertainment industries. We are confident this program will assist broadcasters with superior end-to-end solutions that include equipment, services and financing." MEDIA CONTACT: NEWS RELEASE: Chris Kemper For Immediate Release 513-455-9228 Christopher.Kemper@NatioalCity.com About National City Commercial Capital National City Commercial Capital is a national, high-growth, multi-channeled equipment finance company that provides a broad array of products and services to both new and existing customers and markets. It is one of the largest bank-affiliated leasing companies in the country. National City Commercial Capital is a wholly-owned subsidiary of National City Corporation (NYSE: NCC) and is based in Cincinnati. For more information about National City Commercial Capital, visit the company's Web site at www.NC-4.com. Information about National City Media Finance is available at www.NC-4.com/media. About National City Corporation (NYSE: NCC) Headquartered in Cleveland, Ohio, NCC is one of the nation's largest financial holding companies. The company operates through an extensive banking network primarily in Ohio, Illinois, Indiana, Kentucky, Michigan, Missouri and Pennsylvania, and also serves customers in selected markets nationally. Its core businesses include commercial and retail banking, mortgage financing and servicing, consumer finance and asset management. For more information about National City, visit the company's Web site at www.NationalCity.com. Contact Bob Burtis at bob.burtis@nc-4.com
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