Amid rumors that audio post studio Sound One in New York (formerly part of CSS Studios, which was bought by Empire Investment Holdings this past Monday) had closed its doors, management has issued this statement, saying the move is a response to the current market conditions in New York.

They went on to say: "The company is investigating strategic alternatives for its New York operations. As a first step, the company implemented a short-term temporary lay-off program, while the management team considers a variety of strategic options. This development pertains solely to Sound One, LLC in New York and does not impact CSS Studios’ operations in Los Angeles."

Studios in LA include Emmy and Oscar powerhouses Todd-AO and Soundelux, as well as POP Sound, Modern Music, Soundelux Design Music Group and The Hollywood Edge.

For details on the Empire purchase, CLICK HERE.