More Broadcast Industry M+A: Ascent Sells Post Business to Deluxe

Posted by Joe Zaller
Nov 25 2010

In move that further consolidates the post production industry, Deluxe Entertainment announced that it has signed an agreement to acquire the creative services and media services business of Ascent Media. 

According to Ascent Media, The deal is valued at $68m allocated as follows: 79% to the U.S. businesses and 21% to the U.K. businesses.

Deluxe say the deal, which includes the acquisition of Company 3, Beast, Method, Rushes, Encore Hollywood and Level 3 Post from Ascent, will enhance Deluxe’s include life-cycle library management and digital asset management services for clients.

Ascent Media says it will continue to own its content distribution and systems integration businesses. However, the Company is pursuing strategic alternatives for both business units. In addition, the Company is committed to pursuing investments in or the acquisition of businesses that provide enhanced shareholder return opportunities.

You can read the full Deluxe press release here.

More information from TVB Europe is here.

.

Comments are closed.

%d bloggers like this: