Thoroughly Modern Videofilm Thoroughly Modern Videofilm / Loan Deal Gives Longtime Takeover...

Privately held Modern Videofilm Inc., a $40 million-revenue postproduction company in Burbank that's been a takeover target for some time, finalized a big refinancing package Tuesday that it says will help it go forward solo.

"After spending a year talking about being acquired or a merger or things like that, we decided that our best option is to take the future in our own hands rather than to put it in someone else's," chief executive Moshe Barkat said.

GE Capital Corp. is providing a $30.5 million lending package that will allow the refinancing of all current loans -- involving a lending consortium led by National Bank of Canada -- and for Modern Videofilm to buy out equity investor Bear Stearns & Co., Barkat said.

GE Capital has also extended an additional, unspecified credit line to fund Modern Videofilm's possible acquisitions of other companies, he said.

Acquisitions could involve either additional operations in the company's core areas of TV postprod and studio services or extensions into other related post areas. Modern Videofilm wants to build on its current client base, but execs are anxious to retain a reputation for client-friendly atmosphere, Barkat said.

ABC's "Home Improvement" is among the 32 TV programs for which the company provides post services.