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 EFILM® 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.
Kamala Harris Receives Chairman’s Prize At NAACP Image Awards
Former Vice President Kamala Harris stepped on the NAACP Image Awards stage Saturday night with a sobering message, calling the civil rights organization a pillar of the Black community and urging people to stay resilient and hold onto their faith during the tenure of President Donald Trump.
"While we have no illusions about what we are up against in this chapter in our American story, this chapter will be written not simply by whoever occupies the oval office nor by the wealthiest among us," Harris said after receiving the NAACP's Chairman's Award. "The American story will be written by you. Written by us. By we the people."
The 56th annual Image Awards was held at the Pasadena Civic Auditorium in the Los Angeles area.
Harris, defeated by Trump in last year's presidential election, was the first woman and the first person of color to serve as vice president. She had previously been a U.S. senator from California and the state's attorney general.
In her first major public appearance since leaving office, Harris did not reference her election loss or Trump's actions since entering the Oval Office, although Trump mocked her earlier in the day at the Conservative Political Action Conference.
Harris spoke about eternal vigilance, the price of liberty, staying alert, seeking the truth and America's future.
"Some see the flames on our horizons, the rising waters in our cities, the shadows gathering over our democracy and ask 'What do we do now?'" Harris said. "But we know exactly what to do, because we have done it before. And we will do it again. We use our power. We organize, mobilize. We educate. We advocate. Our power has never come from having an easy path."
Other winners of the Chairman's prize have included former... Read More