Completes Previously Announced Transaction to Enhance Post-Production Service Offerings

HOLLYWOOD, Dec. 31, 2010 /PRNewswire/ -- Deluxe Entertainment Services Group Inc. announced today that it has closed its acquisition of Ascent Media Corporation's (Nasdaq: ASCMA) Creative Services and Media Services businesses, including the well-known brands of Company 3, Beast, Method, Rushes, Encore Hollywood and Level 3 Post.  

Many of the acquired business units provide creative and media services in television and commercial post production that go beyond Deluxe's portfolio of services for the theatrical market.  

"In the coming weeks and months, Deluxe will be advising customers on the new service offerings," said Cyril Drabinsky, President and CEO of Deluxe.  "We look forward to providing our customers with the best that the combined companies and teams of talented employees have to offer," Drabinsky added.

About Deluxe

Deluxe Entertainment Services Group Inc., a wholly-owned subsidiary of MacAndrews & Forbes Holdings Inc., is the leading provider of a broad range of entertainment industry services and technologies to major Hollywood Studios and an international client base. Services include motion picture film processing, printing and distribution; EFILM® and Company 3® digital intermediates; feature and television post production and subtitling services; titles design and digital VFX; DVD compression, encoding and authoring; digital cinema services, digital asset management, digital distribution; and marketing fulfillment services. Laboratory and post production facilities are located in North America, Europe, and Australia. Deluxe Digital Studios offer home entertainment services in North America, Europe and India. For more information, please visit www.bydeluxe.com

SOURCE Deluxe Entertainment Services Group Inc.

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