Deluxe To Acquire Creative Services and Media Services Business Units from Ascent Media Company 3 along with Method, Rushes, Encore Hollywood and Level 3 Post to complement Deluxe's leading brands
HOLLYWOOD, Calif., Nov. 24, 2010 /PRNewswire/ -- Deluxe Entertainment Services Group Inc. announced today that it has signed an agreement with Ascent Media Corporation (Nasdaq: ASCMA) to acquire Ascent's Creative Services and Media Services businesses, including the well-known brands of Company 3, Beast, Method, Rushes, Encore Hollywood and Level 3 Post.
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 the world's largest processor of film for the motion picture industry and the industry's largest 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," adds Drabinsky.
The transaction is subject to customary closing conditions and is expected to close by the end of the year.
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® digital intermediates; 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.