The Post Group in Hollywood–one of the largest, still independently owned post houses in Greater Los Angeles–has been sold via a stock sale at an undisclosed price to filmmaker Matt Cooper (Perfect Opposites) and his brother David Cooper. The Coopers also own L.A.-based Lightning Media, have a stake in Hollywood-based iO Film, and own Santa Monica-based feature production company Vault Films.
Founded in 1974, The Post Group offers telecine, editing, visual effects, audio sweetening, conversions, quality control, and duplication to studios, networks, producers and advertising agencies. The company’s well known chairman and primary owner before the sale, industry veteran Fred Rheinstein, remains with the company as vice chairman.
Lightning Media CEO Stephen Buchsbaum adds Post Group chief executive responsibilities to his role; the new CEO said there would be no other staff changes at this time. He also said the facility name would go unchanged.
Buchsbaum happens to also be a Post Group alum; he served as telecine director and helped to build the company’s digital center while employed there from ’88 to ’92. Buchsbaum related that Rheinstein began discussions with the Coopers when iO Film moved to new space near The Post Group. The initial intent was to form a strategic alliance whereby IQ Film’s DI services would be incorporated into The Post Group. In the end, an acquisition was decided upon. The plan is now to expand client services by offering the combined capabilities at iO Film, Lightning Media and, now, The Post Group.
“The Post Group has terrific horse power, and has assembled amazing talent along with state-of-the-art equipment,” said Matt Cooper. “Our goal is to create the best place to work and the best place to have work done. Once a filmmaker steps into our world, they won’t need to go anywhere else.”
To take advantage of the synergies, the sales staffs at all of the companies will market and represent Lightning, iO, and The Post Group. Buchsbaum told SHOOT he is currently evaluating what The Post Group needs in order to grow, and would bring in appropriate talent.
Among the goals is to grow in the commercials space, an effort The Post Group had already started prior to the acquisition; Buchsbaum said he plans to bring in a new sales rep dedicated to the advertising business.
The Post Group’s infrastructure already includes eight color correction suites, including five HD telecine rooms; two Avid Nitris systems; six Avid Symphony systems; three linear HD editing suites; and a visual effects unit, Momentum Lab, which offers three Discreet Infernos, a Discreet Flame and a Discreet Fire. That unit has completed effects for commercial clients including Nissan Pathfinder, GNC and Fox Sports.net.
