Technicolor has been doing some shopping to dramatically boost its digital cinema business. The Paris-based company announced July 27 an agreement to acquire Cinedigm Digital Cinema Corp.’s physical and electronic theatrical distribution assets, and on the same day announced the acquisition of LaserPacific’s postproduction assets.
The Cinedigm deal will grow Technicolor’s satellite presence by 40 percent, expanding it to over 1,100 locations in North America. Distribution assets, replication equipment, and at least 300 satellite roof rights are also included, among other things. Additionally, Technicolor will license some of Cinedigm’s key software and become its preferred partner for related post-production services.
This will enable Cinedigm to focus its efforts on providing alternative content and on digital cinema operational software, and potentially to expand internationally.
“Technicolor is the market leader and highly respected in the delivery business, with strong customer relationships both domestically and internationally that will allow Cinedigm to expand our software and content distribution businesses faster and more effectively,” said Chris McGurk, chairman and CEO of Cinedigm.
Financial details were not disclosed for the deal, which is expected to close in September.
The LaserPacific deal gives Technicolor a boost to its television broadcast and theatrical digital post-production market position. LaserPacific’s postproduction assets along with key LaserPacific creative talent and personnel will be transferred from its Hollywood-based operations.
Frederic Rose, CEO of Technicolor, said the LaserPacific agreement fit Technicolor’s efforts to support its customers as they make the transition to digital. “It reinforces our key position in broadcast digital post production and extends our world-class creative talent pool, while further strengthening our long-standing relations with filmmakers and studios,” he said.
Hollywood Reporter post: http://tinyurl.com/3jskae7
Variety post: http://tinyurl.com/44s2b8c