Technicolor Announces Deals with Cinedigm and Laser Pacific
By Rob Scott
July 29, 2011
July 29, 2011
- Technicolor announced this week that it would be acquiring physical and electronic distribution assets from Cinedigm Digital Cinema.
- The deal, which will enable Technicolor to expand its footprint in physical and satellite delivery, is expected to close in September.
- It allows Cinedigm to sell the assets of its noncore business while growing support of key areas of alternative content and digital cinema operational software, Cinedigm CEO Chris McGurk told The Hollywood Reporter.
- According to ETCentric contributor Carolyn Giardina of THR: “Technicolor will acquire Cinedigm’s physical and electronic distribution assets, including replication equipment and hard-drive inventory as well as a minimum of 300 satellite roof rights in the U.S. and Canada, resulting in an increase of about 40 percent in Technicolor’s North American satellite footprint, which now will include some 1,100 locations. Technicolor will become Cinedigm’s preferred content servicing partner for postproduction through distribution services.”
- Technicolor is also acquiring Laser Pacific — the noted post facility that provides feature film, TV, restoration and visual effects services. (Laser Pacific was purchased by Kodak in 2003 for $30.5 million, and was sold to HIG Capital in 2010.)
- In related news, ETCentric recently reported that Technicolor and Deluxe have entered into agreements whereby Technicolor will subcontract its 35mm print business to Deluxe in North America, while Deluxe will farm out its 35mm print distribution business in the the U.S. to Technicolor.
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