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    Panavision’s recapitalization reduces debt, sets stage for growth

    By SHOOTUpdated:No Comments1227 Views
    WOODLAND HILLS, Calif. --

    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.

    Tags:Panavision



    A Closer Look At Proposed Measures Designed To Curb Google’s Search Monopoly

    Thursday, November 21, 2024

    U.S. regulators are proposing aggressive measures to restore competition to the online search market after a federal judge ruled Google maintained an illegal monopoly for the last decade.

    The sweeping set of recommendations filed late Wednesday by the U.S. Department of Justice could radically alter Google's business, including possibly spinning off the Chrome web browser and syndicating its search data to competitors. Even if the courts adopt the blueprint, Google isn't likely to make any significant changes until 2026 at the earliest, because of the legal system's slow-moving wheels.

    Here's what it all means:

    What is the Justice Department's goal?
    Federal prosecutors are cracking down on Google in a case originally filed during near the end of then-President Donald Trump's first term. Officials say the main goal of these proposals is to get Google to stop leveraging its dominant search engine to illegally squelch competition and stifle innovation.

    "The playing field is not level because of Google's conduct, and Google's quality reflects the ill-gotten gains of an advantage illegally acquired," the Justice Department asserted in its recommendations. "The remedy must close this gap and deprive Google of these advantages."

    Not surprisingly, Google sees things much differently. The Justice Department's "wildly overbroad proposal goes miles beyond the Court's decision," Kent Walker, Google's chief legal officer, asserted in a blog post. "It would break a range of Google products — even beyond search — that people love and find helpful in their everyday lives."

    It's still possible that the Justice Department could ease off on its attempts to break up Google, especially if President-elect Donald Trump... Read More

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