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Technicolor buys LaserPacific, signs deal with PostWorks

July 28, 2011
Technicolor buys LaserPacific, signs deal with PostWorks
HOLLYWOOD — Technicolor (www.technicolor.com ) has acquired LaserPacific’s post production assets as part of a plan to grow its broadcast television and theatrical digital post production market position. As part of the transaction, key LaserPacific talent and personnel from its Hollywood-based operations will be transferred. 

The agreement reinforces Technicolor’s presence in broadcast post with an increase of 40 percent in the number of total television series serviced. It will further enhance the company’s presence in theatrical, marketing, such as trailers, and library mastering. The transaction will also extend Technicolor’s reach and engagement with filmmakers through a digital intermediate facility located in West Los Angeles. Frederic Rose, CEO of Technicolor, says, “The acquisition of LaserPacific’s assets is in line with our commitment to support the transition of our customers to digital technologies. It reinforces our key position in broadcast digital post production and extends our world-class creative talent pool, while further strengthening our long-standing relations with filmmakers and studios.” 

The LaserPacific business in LA will be branded Technicolor, but will continue to operate in their existing spaces. The combination of LaserPacific’s broadcast series work with Technicolor’s gives the combined company a huge market share over its competition.

In related news, Telecorps Holdings, Inc., the parent company of PostWorks NY (www.pwny.com), has signed an agreement to acquire Technicolor New York (pictured). The company will provide editorial, color grading and other post production services as a single unit in New York under the Technicolor/PostWorks name. The two companies formed a similar partnership last year to provide film laboratory services through the jointly-operated New York Film Lab. “We have worked towards creating this kind of synergy for a long time,” says David Rosen, chairman of Telecorps. “Customers are searching for the highest quality solutions with the fewest points of contact. They want a provider who can facilitate all aspects of the acquisition, editing and finishing of content. This partnership provides that answer.” Executives from Technicolor and PostWorks will manage the integration and ongoing operation of the two facilities to ensure continued consistent delivery. Telecorps Holdings Inc. also owns Hula Post, Orbit Digital, Wexler Video and Coffey Sound.