Terry Dugan’s practice focuses on finance, acquisitions, and workouts, primarily in the motion picture and music sectors. Terry represents the most active agent banks in syndicated financings in the motion picture and music finance space, private equity debt and acquisition funds, and a number of other investors in the motion picture and music sectors. He also advises clients on US and international finance, project finance, syndicated bank lending, institutional lending, workouts, and mergers and acquisitions in other sectors. Terry’s skills include complex multijurisdictional financings and structured finance.
Get to Know Terry
I do finance and M&A work, currently focused on the film, TV and music sectors. I represent most of the major banks that lend is this sector, as well as private equity funds both as lenders, buyers of entertainment assets and borrowers in entertainment deals.
Two things I’ve heard repeatedly from clients is that I am unflappable and very responsive. In representing clients, I never lose sight of the fact that my client has a relationship with its counterparty, whether a borrower in a loan or a seller of assets in an acquisition, and that relationship needs to be preserved. There are times when a firm ‘no’ is needed in a negotiation, but having a solution-oriented approach and avoiding unnecessary contentiousness gets deals done. It also surprises me how much good will I generate from clients just by picking up my own phone and being quick to respond to emails.
I have an absurdly broad skill set. Although I’ve focused on entertainment deals for most of the past 20 years, I grew up at one of the top New York firms doing bankruptcy, international project finance, and structured finance, so I have those tools for structuring deals and dealing with issues. I also have the perspective of running the European legal department for growing public company for a few years, so I have a good sense of what goes on inside a public company and how to deal with comparative law issues around the world.
My only real hobby is riding fast motorcycles. I’ve owned a couple of Ducatis and a BMW over the years and now ride a KTM 1290. My wife and I also enjoy travel, Off Broadway shows, live music and fine dining. My nerdy pleasure is Gilbert & Sullivan operettas, and I’m on the Board of the New York Gilbert & Sullivan Players, the only professional G&S company in the U.S.
- Represented agent bank and lead lender in a US$600 million production loan facility for a motion picture studio.
- Represented agent bank and lead lender in a US$300 million term and revolving credit facility for a film and television distributor.
- Represented agent bank and lead lender in a US$75 million revolving credit facility for a music performing rights organization.
- Represented agent bank and lead lender in a US$260 million syndicated multicurrency senior secured bank credit facility and intercreditor agreement for companion public note transaction. Borrower was a motion picture production company.
- Represented agent bank and lead lender in a US$750 million syndicated senior secured credit facility for a music publisher and owner of record labels.
- Represented agent bank and lead lender in a distressed US$325 million syndicated senior secured credit facility for a US-European motion picture production company and the ensuing foreign insolvency.
- Represented agent bank and lead lender in a US$550 million term loan and revolving credit facility to a music publisher.
- Represented agent bank and lead lender in a US$185 million syndicated senior secured revolving credit facility to purchase movie rights from a motion picture production company in bankruptcy.
- Represented a private equity firm in a variety of bids and completed acquisition of motion picture and television assets.
- Represented a specialist private equity fund in multiple acquisitions of libraries of music copyrights in the US and abroad.
- Represented a private equity debt fund in multiple music financings.
- Represented music rights owners in multiple music securitizations.
Admissions
Bar Admissions
- New York
Education
- Vanderbilt University, J.D.
- Vanderbilt University, B.A.
Honors & Awards
- Named to Top Music Lawyers List by Billboard (2023)
- Recommended by The Legal 500 US for Media and Entertainment: Transactional (2022-2023)
Professional Activities
Memberships
- New York City Bar Association, Entertainment Law Committee; Committee Chair, 2022-2025 term
- New York City Bar Association, Task Force on Digital Technologies; Co-Chair, Metaverse Subcommittee
- New York State Bar Association, Entertainment, Arts & Sports Law Section
Speaking Engagements
- Terry routinely gives client seminars on lending and entertainment issues.