Technicolor announced plans to spin off Technicolor Creative Studios, housing its visual effects and animation businesses including Mpc Film (formerly known as the Moving Picture Co.), through a share distribution to company shareholders.
Paris-based Technicolor will remain listed on Euronext Paris. Following the spinoff of Technicolor Creative Studios, the parent company will retain up to 35% ownership. Technicolor will have two main lines of business following the transaction: Connected Home, a provider of broadband and Android TV tech solutions; and DVD Services, which provides replication, packaging and supply chain solutions for packaged media and related products for across film, TV, games and music industries.
Along with the Tcs spin, Technicolor expects to refinance its debt with the issuance of €300 million ($336 million) in mandatory convertible notes. The refinancing and the spin-off are expected to be completed by the third quarter of 2022, subject shareholder and regulatory approvals.
In addition, Paris-based Technicolor said it...
Paris-based Technicolor will remain listed on Euronext Paris. Following the spinoff of Technicolor Creative Studios, the parent company will retain up to 35% ownership. Technicolor will have two main lines of business following the transaction: Connected Home, a provider of broadband and Android TV tech solutions; and DVD Services, which provides replication, packaging and supply chain solutions for packaged media and related products for across film, TV, games and music industries.
Along with the Tcs spin, Technicolor expects to refinance its debt with the issuance of €300 million ($336 million) in mandatory convertible notes. The refinancing and the spin-off are expected to be completed by the third quarter of 2022, subject shareholder and regulatory approvals.
In addition, Paris-based Technicolor said it...
- 2/24/2022
- by Todd Spangler
- Variety Film + TV
Technicolor said it will spin off its creative studios division into a new independent entity specializing in visual effects and animation.
The France-based technology services company, whose roots in the entertainment business date back more than a century, will remain publicly traded on the Euronext Paris exchange. The main company will continue to focus on a range of services, from connected homes to broadband-delivered entertainment. It plans to retain a 35% stake in Technicolor Creative Studios and list Tcs on the Euronext Paris. Majority control will go to Technicolor shareholders via a distribution-in-kind transaction.
Earlier this year, Technicolor overhauled its effects operations, grouping previously separate divisions under the Moving Picture Company (Mpc) banner. Mpc had gained notice for its work on films like 1917 and the 2019 remake of The Lion King. Its more recent credits include Ghostbusters: Afterlife, Cruella and West Side Story.
Other major players are moving to capitalize on the...
The France-based technology services company, whose roots in the entertainment business date back more than a century, will remain publicly traded on the Euronext Paris exchange. The main company will continue to focus on a range of services, from connected homes to broadband-delivered entertainment. It plans to retain a 35% stake in Technicolor Creative Studios and list Tcs on the Euronext Paris. Majority control will go to Technicolor shareholders via a distribution-in-kind transaction.
Earlier this year, Technicolor overhauled its effects operations, grouping previously separate divisions under the Moving Picture Company (Mpc) banner. Mpc had gained notice for its work on films like 1917 and the 2019 remake of The Lion King. Its more recent credits include Ghostbusters: Afterlife, Cruella and West Side Story.
Other major players are moving to capitalize on the...
- 2/24/2022
- by Dade Hayes
- Deadline Film + TV
After selling off its post-production color finishing service to Streamland Media last week, Technicolor was reborn on Wednesday as Technicolor Creative Studios, a new restructuring that consolidates its remaining visual effects, gaming, and animation (Mikros Animation) companies under one division.
So much for the premature demise of the Technicolor brand, although its historic connection with excellence in color marks the end of an era. But then our emotional connection to “glorious Technicolor”, associated with the three-strip camera and dye-transfer printing, essentially vanished when the company abandoned film stock and went digital in the 21st century.
“The sale of Technicolor Post was the first step in a wider, ongoing strategic plan to establish a future-facing Technicolor business,” said Christian Roberton, president of Technicolor Creative Studios. The new focus will be “on delivering work across the entertainment, advertising, and experiential marketing landscape that hinges on the intersection of creativity and technology. The...
So much for the premature demise of the Technicolor brand, although its historic connection with excellence in color marks the end of an era. But then our emotional connection to “glorious Technicolor”, associated with the three-strip camera and dye-transfer printing, essentially vanished when the company abandoned film stock and went digital in the 21st century.
“The sale of Technicolor Post was the first step in a wider, ongoing strategic plan to establish a future-facing Technicolor business,” said Christian Roberton, president of Technicolor Creative Studios. The new focus will be “on delivering work across the entertainment, advertising, and experiential marketing landscape that hinges on the intersection of creativity and technology. The...
- 5/19/2021
- by Bill Desowitz
- Indiewire
Streamland Media, formerly Picture Head Holdings, has announced plans to acquire Technicolor’s post-production business.
Trive Capital and Five Crowns Capital are supporting the deal, which is valued at $36.5 million and expected to close in the first half of this year.
Streamland already owns a range of post-production outfits, including Picture Shop, Formosa Group, Ghost VFX, Picture Head, The Farm Group and Finalé Post.
Technicolor describes the transaction as fitting with the ongoing transformation of the company under new CEO Richard Moat. His goal is to focus more on the visual effects and animation work that precede the final services of color and sound.
Creative studios remaining under the Technicolor tent include Mpc Film, Mr. X and Mikros. In recent years, Mpc Film earned Oscar nominations for its work on The Lion King, The Jungle Book and 1917, winning for the last two of those.
The Technicolor Post business will...
Trive Capital and Five Crowns Capital are supporting the deal, which is valued at $36.5 million and expected to close in the first half of this year.
Streamland already owns a range of post-production outfits, including Picture Shop, Formosa Group, Ghost VFX, Picture Head, The Farm Group and Finalé Post.
Technicolor describes the transaction as fitting with the ongoing transformation of the company under new CEO Richard Moat. His goal is to focus more on the visual effects and animation work that precede the final services of color and sound.
Creative studios remaining under the Technicolor tent include Mpc Film, Mr. X and Mikros. In recent years, Mpc Film earned Oscar nominations for its work on The Lion King, The Jungle Book and 1917, winning for the last two of those.
The Technicolor Post business will...
- 1/14/2021
- by Dade Hayes
- Deadline Film + TV
Tech and VFX giant Technicolor and its former CEO Frederic Rose have been indicted on fraud and breach of trust charges in France, per a report in French trade La Lettre Audiovisuelle, which we have confirmed.
The high court charges come after a seven-year investigation into Technicolor’s part in the 2011 bankruptcy of Tarak Ben Ammar’s post-production firm Quinta Industries, which Technicolor had owned a stake in but then fully acquired in early 2012.
Producer Ben Ammar had alleged that Technicolor worked against his company to force it into bankruptcy, and then purchased his assets at cut down price. Ben Ammar has filed both criminal and civil suits, the latter demanding €60M in damages.
The local judge in Nanterre, France, said she suspected Technicolor of having played a crucial role in Quinta Industries’ demise. She also accused Technicolor of having hidden its intention to launch its own post-production firm Technicolor Entertainment Services France,...
The high court charges come after a seven-year investigation into Technicolor’s part in the 2011 bankruptcy of Tarak Ben Ammar’s post-production firm Quinta Industries, which Technicolor had owned a stake in but then fully acquired in early 2012.
Producer Ben Ammar had alleged that Technicolor worked against his company to force it into bankruptcy, and then purchased his assets at cut down price. Ben Ammar has filed both criminal and civil suits, the latter demanding €60M in damages.
The local judge in Nanterre, France, said she suspected Technicolor of having played a crucial role in Quinta Industries’ demise. She also accused Technicolor of having hidden its intention to launch its own post-production firm Technicolor Entertainment Services France,...
- 12/19/2019
- by Andreas Wiseman
- Deadline Film + TV
Technicolor and its former CEO, Frederic Rose, have been indicted in France on charges of fraud and breach of trust in connection with their role in the bankruptcy of Tarak Ben Ammar’s post-production group, Quinta Industries, and its subsequent acquisition of the company in January 2012.
The indictment, handed down by the high court of Nanterre, follows a criminal complaint filed by Quinta Communications, the parent company of Quinta Industries, in April 2012, which prompted a thorough preliminary investigation by French authorities. During the seven-year probe, computer and phone records of executives, including Rose’s, were examined. Rose, who had joined Technicolor from Alcatel-Lucent in 2008, was ousted from the company last month and replaced by Richard Moat.
Quinta Industries, a former French leader in the post-production and visual effects sectors, went bankrupt in December 2011. Technicolor, which had acquired 17.5% of Quinta Industries in 2006, made a bid to acquire its key assets once...
The indictment, handed down by the high court of Nanterre, follows a criminal complaint filed by Quinta Communications, the parent company of Quinta Industries, in April 2012, which prompted a thorough preliminary investigation by French authorities. During the seven-year probe, computer and phone records of executives, including Rose’s, were examined. Rose, who had joined Technicolor from Alcatel-Lucent in 2008, was ousted from the company last month and replaced by Richard Moat.
Quinta Industries, a former French leader in the post-production and visual effects sectors, went bankrupt in December 2011. Technicolor, which had acquired 17.5% of Quinta Industries in 2006, made a bid to acquire its key assets once...
- 12/18/2019
- by Elsa Keslassy
- Variety Film + TV
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