The executives at Technicolor have been busy little beavers recently. Just prior to going to press for this issue, Technicolor announced the purchase of Hollywood’s LaserPacific from Telecorps, which also owns post production stalwart PostWorks. The move is meant to increase Technicolor’s presence in the television and theatrical digital post world even further.
As part of the Laser deal, Technicolor will also take over PostWorks’ Tribeca West facility, giving Technicolor its first post facility west of the dreaded 405, and it will include a DI theater and edit suites.
If the deal closes as expected at the end of this month, both of these LA-based Telecorp locations will operate under the Technicolor brand.
Also announced was the sale of Technicolor New York to PostWorks NY. Not only is Telecorp’s PostWorks buying the studio, talent and technology, they licensed the Technicolor name as part of an exclusive agreement — the studio will be called Technicolor/Postworks.
The following is a brief Q&A with Technicolor NY’s senior VP of post, Dominic Rom.
POST: If the contracts get signed, PostWorks will own Technicolor NY but retain the Technicolor name?
DOMINIC ROM: “PostWorks is licensing the Technicolor name. It’s really the best of both worlds for the two companies. It gives PW access to the Technicolor color science, processes and talent and it enables Technicolor to remain in the NY market place and continue to service the clients that have come to expect the quality of the Technicolor NY.”
POST: Why sell Technicolor NY and not just form a partnership like you did last year?
ROM: “In a sense this is a partnership and both companies are approaching it that way. The companies were working on an asset purchase of LaserPacific; it seemed a logical extension of the deal to do an asset purchase of the NY facility but put a little twist on it, a licensing ‘franchise’ agreement, which means we will be working very closely with the PW staff in all areas.”
POST: Will the staff remain the same?
ROM: “We anticipate retention of all key employees in both companies. Combining the staff gives the new entity one of the most talented groups of editors, engineers and colorists ever in NY. I will be very involved in the integration and the running of the Technicolor/Postworks.”
POST: What can clients expect from this new development? Business as usual?
ROM: “It will be better than business as usual. There will be no disruption in their service; key talent remains on the projects. PostWorks clients now have access to Technicolor services and our incredible DI talent and workflow, and Technicolor clients now have access to Avid rentals and audio services. The best of both worlds.”