Deluxe To Acquire Creative Services and Media Services Business Units from Ascent MediaBy Deluxe Entertainment Services Group Inc., PRNE
Tuesday, November 23, 2010
Company 3 along with Method, Rushes, Encore Hollywood and Level 3 Post to complement Deluxe's leading brands
HOLLYWOOD, California, November 25, 2010 - Deluxe Entertainment Services Group Inc. announced today that it has
signed an agreement with Ascent Media Corporation (Nasdaq: ASCMA) to acquire
Ascent's Creative Services and Media Services businesses, including the
well-known brands of Company 3, Beast, Method, Rushes, Encore Hollywood and
Level 3 Post.
The acquisition will also enhance Deluxe's services for clients that
include life-cycle library management and digital asset management. Digital
services include file based mastering, archiving, digital distribution, DVD
and Blu-ray authoring.
Deluxe is the world's largest processor of film for the motion picture
industry and the industry's largest provider of Blu-ray authoring services.
Over the last few years Deluxe has significantly increased its service
offerings in digital services and content delivery. The company's pipeline
includes 2D and 3D post production services from film or digital capture to
digital intermediates with the proprietary EFILM(R) workflow, theatrical
release (35mm and digital cinema), and home entertainment services for every
digital media platform.
"Deluxe is well positioned to take our company into the future as
technologies continue to transform how customers create and distribute
content for films and television programs," said Cyril Drabinsky, President
and CEO of Deluxe. "We look forward to this talented group of people joining
the Deluxe team," adds Drabinsky.
The transaction is subject to customary closing conditions and is
expected to close by the end of the year.
Deluxe Entertainment Services Group Inc., a wholly-owned subsidiary of
MacAndrews & Forbes Holdings Inc., is the leading provider of a broad range
of entertainment industry services and technologies to major Hollywood
Studios and an international client base. Services include motion picture
film processing, printing and distribution; EFILM(R) digital intermediates;
post production and subtitling services; titles design and digital VFX; DVD
compression, encoding and authoring; digital cinema services, digital asset
management, digital distribution; and marketing fulfillment services.
Laboratory and post production facilities are located in North America,
Europe, and Australia. Deluxe Digital Studios offer home entertainment
services in North America, Europe and India. For more information, please
Cathy Main, Vice President Marketing of Deluxe Entertainment Services Group, +1-323- 960-8454, cathy.main at bydeluxe.com
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