Panavision, the designer, manufacturer and provider of state-of-the-art cinema lenses and high-precision camera systems, has announced the recapitalization of the company.
With the recapitalization, Panavision’s senior lenders unanimously agreed to convert a majority of the company’s long term debt into common stock of the company. This major reduction in Panavision’s debt enhances its capital structure and enables the company to explore growth opportunities.
“This transaction is very positive news for the company and gives Panavision more fiscal flexibility for the future,” said Panavision CEO and president Kim Snyder. “We now have a very healthy balance sheet, allowing us to accelerate our investment in equipment, technology and resources and further focus our efforts on meeting the needs and expectations of our customers.”
Panavision has recently extended its industry reach into the postproduction realm with the acquisition of Light Iron, a leader in digital workflow solutions.
The recapitalization was a private transaction that was formally completed on June 12, 2015. Panavision’s major shareholders have not changed, and the company’s Board of Directors and executive leadership team led by Snyder remain committed to the long term growth and success of the company.
“Dune: Part Two” and “House of the Dragon” Win 2 HPA Awards Apiece
Dune: Part Two and House of the Dragon each scored two HPA Awards during a gala ceremony at the Television Academy’s Wolf Theatre in North Hollywood, Calif. on Thursday night (11/7). The HPA Awards honor trailblazing talent in the postproduction industry, celebrating standout achievements in color grading, sound, editing, restoration, and visual effects across theatrical features, commercials, and episodics.
Dune: Part Two topped the Outstanding Color Grading--Live Action Theatrical Feature and the Outstanding Sound--Theatrical Feature categories.
House of the Dragon’s two wins were for “The Red Dragon and the Gold” episode which scored for Outstanding Visual Effects--Live Action Episode or Series Season, and Outstanding Editing--Episode or Non-Theatrical Feature (Over 30 Minutes). In the latter HPA Creative Category, House of the Dragon tied with the “Part Six: Far,l Far Away” episode of Ahsoka.
The HPA’s Judges Award for Creativity and Innovation honored Taylor Swift | The Eras Tour. This recognition celebrates the profound impact on both live and filmed entertainment that defined The Eras Tour, underscoring its exceptional impact on audiences and the industry. The jury issued a statement outlining their choice: “Celebrated as the cultural phenomenon of 2023, Taylor Swift | The Eras Tour set new records in box office sales, tour revenues, and attendance. The tour showcased exceptional artistry and innovation, making a profound impact on both live and filmed entertainment.”
This year, FotoKem was awarded the Charles S. Swartz Award for its role in supporting filmmakers, studios, cinematographers, and artists across diverse film and media landscapes. Also celebrated... Read More