Deluxe and Technicolor launch joint venture
Deluxe and Technicolor have announced that they have entered into a binding agreement to create a joint venture, Deluxe Technicolor Digital Cinema, specializing in theatrical digital cinema mastering, distribution and key management services.
Both Technicolor and Deluxe will be committed to the operational and financial success of the new business, which will be managed by Deluxe and based in Burbank, Calif. All other lines of business will continue to operate independently of one another.
“As the global entertainment industry continues its transition to 100 percent digital distribution and delivery, this transformational partnership will be optimally positioned to offer our companies’ existing and future customers industry-leading digital cinema services with greater efficiencies,” said David Kassler, CEO of Deluxe Entertainment Services, in a statement outlining the joint venture. “This is yet another example of Deluxe expanding our partnerships to deliver a suite of next generation digital cinema services to our industry customers.”
“This partnership puts us in a stronger position to offer industry-leading digital cinema services around the world,” stated Tim Sarnoff, president, production services, at Technicolor. “At Technicolor we have committed ourselves to services that are driven by creative talent and technology, creating the next generation immersive media experiences our customers have come to expect from us.”
This joint venture is subject to customary closing conditions and is expected to close in the second quarter of 2015.