DownStream LLC, a newly formed group headed by Tim Larson, has purchased Portland-based postproduction house DownStream from hybrid direct response ad agency/production company The Tyee Group, Portland, for an undisclosed price. Larson, DownStream’s VP for the past four years, has become facility president and general manager, succeeding Steve Scott, who retired from that position.
The impetus for the deal was global agency network Euro RSCG Worldwide’s desire to acquire a majority stake in Tyee. But to consummate that transaction, Euro RSCG required that Tyee divest itself of its postproduction operation, related Larson.
That opened the door for Larson, who lined up a group of financial partners to make what turned out to be a successful bid for DownStream. He bought the facility from Tyee’s Scott, John Ripper and Roger Thompson, and also sold his shares in Tyee back to the Tyee firm. This paved the way for Euro RSCG’s investment in Tyee, which now becomes Tyee Euro RSCG.
Tyee launched DownStream as a division in ’88. Since then, the post house has grown to generate $8 million in annual revenue and currently maintains a staff of 50 full-time employees.
In January, the company launched DownStream Sound, a recording facility featuring three recording and sound design studios equipped with Fairlight MFX3 digital audio workstations. DownStream’s audio sweetening department staffers recently relocated to the stand-alone DownStream Sound, which is about a mile from the DownStream video post headquarters.
The audio operation complements the main facility’s resources in editorial, post, animation, CGI and film transfer. DownStream, for example, maintains a Philips Spirit Datacine that can accommodate hi-def film-to-tape transfers. The shop also upgraded its visual effects capabilities by adding a second Discreet Logic Flame system last month.
DownStream draws business from the multimedia, longform and commercial production sectors. Its advertising industry clients include Portland-based ad agencies Wieden + Kennedy, Nerve and Moffatt/Rosenthal, as well as Portland production companies such as Chel White Films, Will Vinton Studios and Food Chain Films. DownStream also does international commercial work directly for adidas, as well as corporate and point-of-purchase projects on a client-direct basis for Nike.
