Deal Encompasses Such Notable Shops As Company 3, Beast, Method, Rushes, Encore Hollywood and Level 3 Post
Deluxe Entertainment Services Group Inc. has entered into an agreement with Ascent Media Corporation to acquire Ascent’s Creative Services and Media Services businesses which include such mainstay shops as Company 3, Beast, Method, Rushes, Encore Hollywood and Level 3 Post.
Deluxe thus diversifies itself even further in the post, visual effects and editorial arenas, adding a talent base active in commercials, TV and features. 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 a leading processor of film for the motion picture industry and a prime 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 EFILMยฎ 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.”
The transaction–at a purchase price of approximately $68 million (after the assumption of certain indebtedness)–is subject to customary closing conditions and is expected to close by the end of the year.
Ascent Media’s CEO William Fitzgerald said, “AMG’s [Ascent Media Group’s] Creative Services group has provided pioneering postproduction solutions for some of the most well-known brands, directors and studios. In Media Services, AMG has been an innovator in developing solutions to help customers manage and distribute content. Deluxe is a leader in both of these segments, and we believe that the transaction should accelerate growth and better serve the combined company’s cutomers worldwide.”
Ascent Media will continue to own AMG’s content distribution and systems integration businesses. However, the company is pursuing strategic alternatives for both business units. Additionally, the company is committed to pursuing investments in or the acquisition of businesses that provide enhanced shareholder return opportunities.
Kari Grubin To Become First Woman President Of The Hollywood Professional Association
Kari Grubin will succeed Seth Hallen as president of the Hollywood Professional Association (HPA) on January 1, 2025.
When Hallen passes HPA leadership to Grubin, the organization marks a noteworthy milestone in its history as she becomes the first woman to hold the HPA presidency and only its third president since the organizationโs founding, following Hallen and HPA founder Leon Silverman. A recognized expert in technology, consultative expertise and postproduction services, Grubin possesses the experience and vision to help drive HPA through the next phase of the industryโs evolution.
โI am truly honored and excited to be part of the leadership team of this great organization that means so much to me, and I will bring my passion and experience to this responsibility,โ said HPA president-elect Grubin. โNow more than ever, HPA is a critical and hyper-relevant partner for the individuals and companies at work in our industry as we face the significant change, challenge and opportunity ahead. HPA will continue to be a conduit for our community to grow, reach out for new opportunities and adapt. Iโm assuming the leadership of a thriving organization, and I look forward to shepherding it through its next powerful new phase. I encourage our community to join us in the work ahead and look forward to the upcoming collaboration.โ
Hallen and Grubin will work closely over the coming months to ensure a smooth transition. A dedicated HPA Board member since 2020, Grubin has spearheaded several of HPAโs most impactful initiatives. She co-founded HPA Women in Post (2011) which provides leadership opportunities and visibility for women working in professional content creation. Under the leadership of Grubin and fellow board member Loren... Read More