Newport Media Gets $10M In Venture Debt

Lake Forest-based Newport Media, a developer of wireless semiconductors for the broadcast media industry, has received $10M in a venture loan, according to the firms providing the financing. The loan came from Horizon Technology Finance Corporation and Bridge Bank. The two said that $7M of the loan came from Horizon, with the other $3M from Bridge Bank. Terms of the loans were not announced. The funding will go towards supporting growth at Newport Media. Newport Media is headed by Mony Abdelgany. More information »