News Category Global Banking & Finance Reviews Production Services streamlines Portfolio to Strengthen Focus on VFX and Animation with Sale of Technicolor Post PRESS RELEASE
Paris (France), 14 January 2021 – Technicolor (Euronext Paris: TCH; OTCQX: TCLRY) announces today (i) that Streamland Media is purchasing the Technicolor Post business, subject to customary closing conditions, (ii) a share purchase by the CEO and (iii) the appointment of a new Board Observer. Richard Moat, Chief Executive Officer of Technicolor, stated: “Today’s announcements reaffirm our commitment to a stronger future for Technicolor. The strategic sale of Technicolor Post is part of our long-term vision for Production Services to focus on VFX and animation for the entertainment industry, and creative services and technologies for the advertising industry, which provide the maximum value to our clients. We will continue to focus on these core areas through our award-winning creative studios The Mill, MPC, Mr. X and Mikros Animation. Moreover, my personal investment in Technicolor shares marks my commitment to our transformation and my confidence in Technicolor’s future.”