Crave names new president, completes financing deal

US publisher Crave Entertainment Group has announced the appointment of a new president for its publishing division, with former TDK Mediactive chief executive Vincent Bitetti joining the firm.

The appointment comes only a week after the company named former Eidos president Rob Dyer as its overall president and COO, and is another step forward in Crave's ongoing growth plans.

Bitetti led TDK Mediactive into the console market four years ago, and continued to direct its operations - which were mostly focused on the publishing of licensed games - up to the point where he negotiated its sale to Take Two last year.

In related news, Crave also today announced the completion of a new financing deal, which will see its existing credit line with GE Capital being extended to encompass a new $55 million revolving credit line and a $3 million term loan.

Crave plans to use the money initially to relocate its distribution warehouse operations to a new facility in Carson, California, which will be more than double the size of its current warehouse facility.