ITV

Category: Post Production

  • Reliance Mediaworks completes sale of multiplex biz to Carnival

    Reliance Mediaworks completes sale of multiplex biz to Carnival

    MUMBAI: Reliance MediaWorks (RMW), a part of Reliance Group, has completed the transaction for sale of its multiplexes business to Carnival Cinemas Ltd.

     

    Reliance MediaWorks’ multiplex chain Big Cinemas had approximately 250 screens across the country.

     

    The entire proceeds for the sale of multiplex business have been duly received by RMW from Carnival Cinemas, and will be used to reduce Reliance Capital’s leverage by approximately Rs 700 crore, through a combination of transfer of debt of RMW and infusion of cash proceeds. 

     

    Reliance Capital executive director Sam Ghosh said, “We are happy to announce closing of this transaction with Carnival Group, which will reduce our overall leverage by approx. Rs 700 crore. This will lower our debt equity ratio to a conservative 1.75:1, amongst the lowest in the financial services sector in India.”

     

    “The transaction is in furtherance of Reliance Capital’s stated objective of focusing purely on its core financial services businesses, significantly reducing exposure to non-core investments in the media and entertainment sector, and reducing overall debt,” he added.

     

    RMW had sold its multiplex business to Carnival Cinemas in December last year, and the transaction has now been closed upon receipt of all approvals. The deal excludes real estate owned by RMW at Imax Wadala and other properties, which are intended to be separately monetized for an approximate value of Rs 200 crore.

  • Prime Focus Technologies joins MESA advisory board

    Prime Focus Technologies joins MESA advisory board

    MUMBAI: Prime Focus Technologies, the technology arm of Prime Focus, is continuing to support media and entertainment (M&E) companies by joining the advisory board of the Media & Entertainment Services Alliance (MESA).

     

    Prime Focus Technologies will be working with MESA on its mission to support service providers in building efficiencies in the creation, production and distribution of physical and digital media and entertainment.

     

    “As a prominent Cloud solutions provider in the M&E industry, Prime Focus Technologies is constantly looking for ways to advance the development of supply chain infrastructure, content securities and innovation in the industry. Forums such as MESA are critical to the M&E industry as a whole through advocacy efforts, market research and opportunities to interact with other key members. We are proud to be joining as a member of the advisory board,” said Prime Focus Technologies founder and CEO Ramki Sankaranarayanan.

     

    MESA’s expansive range of services includes the development and support of special interest groups, events, media and numerous initiatives. Through these pillars, MESA provides support to its members throughout the year in multiple ways while facilitating collaboration and ongoing discussions.

     

    This new partnership comes shortly after the announcement that PFT has signed a deal with HOOQ, a joint venture between Singtel, Sony Pictures Television and Warner Bros. Entertainment. PFT’s Operations Cloud, part of the CLEAR Media ERP Suite will help package and deliver content on HOOQ. CLEAR Operations Cloud helps M&E companies deal with volume and speed needs to service content demand from the growing number of digital outlets globally.

     

    “Prime Focus Technologies is making great strides in advancing the way media and entertainment companies adjust to the digital consumer and we are thrilled to have them join us. Their presence will be key as conversations about the digital age and developing technologies continue to move forward,” said MESA executive director Guy Finley.    

  • Prime Focus & Double Negative ready new VFX facility in Mumbai

    Prime Focus & Double Negative ready new VFX facility in Mumbai

    mumbai: Prime Focus World (PFW), the creative services division of Prime Focus Limited, and VFX house Double Negative (Dneg) have entered the next phase of expansion plans with the building of a new VFX facility in Mumbai.

     

    Located in Mumbai’s Film City, the new studio will be built to the same exacting standards as Dneg’s facilities in London, Vancouver and Singapore, with particular emphasis on providing one of the best working environment for artists.

     

    Dneg’s technical infrastructure, tools and pipeline will be rolled out to the new facility as part of the build, mirroring Dneg’s other international locations.

     

    Recruitment roadshows are being planned throughout India and key international locations to attract the best VFX talent across all levels of experience to work exclusively on Dneg VFX projects. 

     

    Movies already slated for work in Mumbai include The Huntsman for Universal starring Chris Hemsworth, Charlize Theron and Emily Blunt, and Inferno, Ron Howard’s latest movie based on the Dan Brown novel, amongst others.

     

    The new VFX facility will also offer rigorous training programmes for staff with the intention of creating Asia’s leading ‘VFX Campus,’ complete with specifically-built classrooms and training areas, and offering Dneg’s training programmes.

     

    “Prime Focus is the undisputed industry leader in India and knows the market, the culture and the landscape better than any other company. This collaboration plays to the strengths of both companies, the intention being to create a world-class VFX facility that can proudly sit alongside the rest of Dneg’s global network,” said Double Negative CEO Matt Holben.

     

    “This is another great step forward for Prime Focus World and Double Negative, Prime Focus is committed to supporting Dneg in achieving its vision of becoming a truly global company in the high-end film industry, and this new state-of-the-art facility will help them to remain creative and competitive across all of their locations, and to continue producing award-winning visual effects work that is second-to-none,” added Prime Focus founder, executive chairman and global CEO Namit Malhotra. 

     

    Dneg and PFW have recently collaborated on a number of shows, providing VFX and stereo conversion services on projects such as Avengers: Age of Ultron, Terminator: Genisys and Ant-Man. Upcoming projects include Mission Impossible: Rogue Nation, Insurgent, Alice in Wonderland: Through the Looking Glass, Tarzan, Batman v Superman: Dawn of Justice and Spectre.

  • Prime Focus bags iTunes certification for content delivery

    Prime Focus bags iTunes certification for content delivery

    MUMBAI: Prime Focus Technologies (PFT), the technology arm of Prime Focus, has received certification from Apple to deliver movie content and associated assets directly to iTunes.

     

    This recognition comes just after PFT launched ‘Digital Next’ offerings at the 2015 NAB Show, providing cloud-based solutions to help with the immediate challenges faced by the media and entertainment industry to meet the demands of the digital consumer. With this qualification, PFT will assist Apple and its content partners in delivering content on the Apple Store.

     

    “Today’s consumers demand more content, quicker and at their fingertips – a challenge we welcome and combat daily,” said Prime Focus Technologies founder and CEO Ramki Sankaranarayanan.

     

    “Apple is an absolute leader in meeting the demands of digital consumers and providing innovative ways of content delivery. We are honoured to have Apple recognise our commitment to this space and to have earned their trust as a long term partner,” he added.

  • Technicolor buys Mikros Image; strengthens position in animation market

    Technicolor buys Mikros Image; strengthens position in animation market

     

    MUMBAI: Technicolor has entered into an exclusive agreement with Mediacontech to acquire Mikros Image, a French production and postproduction company, implanted in Paris (France) and Montreal (Canada).

     

    Mikros Image is an award-winning French production services company that has long-standing relationships with a large number of French-based customers and encompasses aspects of production and postproduction for feature animation, advertising, feature film and TV. The feature animation division, mainly located in Montreal, has developed a proven and tested pipeline, built a strong team of artists and become a reference in this market. Its feature animation portfolio includesAsterix: le Domaine des Dieux, Mune le gardien de la lune and le Petit Prince.

     

    Mikros Image generated €44 million of revenue in 2014.

     

    The acquisition of Mikros Image would immediately strengthen Technicolor’s position in the animation market, which is identified as a major growth driver for the Group as part of its Drive 2020 strategic plan.

     

    The transaction complements Technicolor’s animation services, which recently grew with the acquisition of Ouido Productions, a French-based production house specializing in animated TV series. With Mikros Image, whose work in advertising includes campaigns for Evian, Dior and Audi, combined with MPC Paris’ advertising activities, Technicolor becomes the leader in France’s advertising market.

     

    Mikros Image would leverage Technicolor’s cutting-edge technologies, access broader resources to scale its offering and benefit from operational synergies. Mikros Image would retain its own brand, management and culture of creativity and would be added to Technicolor’s brands portfolio, that already includes MPC, Mr. X, Ouido and Technicolor. The Group’s strategy is to offer clients empowered and innovative brands that support clients’ service and market needs.

     

    “The acquisition of Mikros Image aligns with our strategic objective to grow in animation and advertising. Their proven expertise in feature animation film and advertising will strengthen our offering,” said Technicolor CEO Frederic Rose.

     

    The transaction is expected to be completed in the second quarter of 2015 subject to the labor law requirements. The transaction is expected to be accretive on a full year basis.

     

  • Prime Focus raises Rs 240 crore; completes RMW transaction

    Prime Focus raises Rs 240 crore; completes RMW transaction

    MUMBAI: Prime Focus has raised Rs 240 crore by way of issue of equity shares worth Rs 120 crore each to Monsoon Studio Private and Reliance MediaWorks (RMW), at Rs 52 per share, on percent basis.

     

    As part of the transaction, the India and overseas operations of RMW’s film and media services business was combined with Prime Focus through a slump sale. The net consideration was paid in the form of fresh equity shares of PFL valued at Rs 52 per share.

     

    With this, Prime Focus has completed the transaction to combine with RMW’s global film and media services business. The transaction was first announced in July 2014 and received approval from the Competition Commission of India (CCI) on 15 December, 2014.

     

    The promoters of PFL and RMW had earlier announced the mandatory open offer in Prime Focus, to the extent of 26 per cent of the fully diluted share capital of PFL, at Rs 52 per share, in compliance with applicable SEBI rules and regulations. The open offer closed on 16 January, 2015.

     

    The tryst with RMW was announced close on the heels of Prime Focus’ Hollywood facing creative services subsidiary Prime Focus World merging its VFX business with acclaimed VFX house Double Negative. The combination of RMW – PFL and Academy Award winning Double Negative creates the world’s largest and the most integrated media services group with over 5500 people present across 20 locations offering visual effects, stereo 3D conversion, animation, and cloud-based digital media solutions that transcend the film, advertising and television industries.

     

    Prime Focus and Double Negative are currently working on a action-packed slate of upcoming movies, including Avengers: Age of Ultron, Terminator: Genisys, Ant-Man, Alice in Wonderland: Through the Looking Glass, Mission Impossible 5, The Hunger Games: Mockingjay Part 2 and Batman v Superman: Dawn of Justice. Recently delivered shows include Kingsman: The Secret Service, Ex Machina, Jupiter Ascending, Seventh Son and In The Heart Of The Sea.

     

    “We have completed the last leg of a protracted but path breaking transaction today. From here on our full focus will be to drive the integration process and unlock synergies for the benefit of our customers, employees and stakeholders worldwide. Today we are best positioned to offer outstanding creativity, cutting edge technology, integrated Digital Media Services, never before scale, financial robustness and sustainability,” said Prime Focus founder, executive chairman and global CEO Namit Malhotra. 

     

  • Wizcraft to create Bollywood entertainment show for Dubai Parks & Resorts

    Wizcraft to create Bollywood entertainment show for Dubai Parks & Resorts

    NEW DELHI: Dubai Parks and Resorts, which is set to be the region’s largest multi-themed leisure and entertainment destination when it opens in October 2016, has joined hands with Wizcraft International Entertainment to create a Bollywood show for the Rajmahal Theatre.

     

    In an agreement between the two, the Rajmahal Theatre situated in Dubai’s Bollywood Parks will reflects the beauty and wonder of India’s culture and architectural heritage. 

     

    The first Broadway-style theatre of its kind in the region, the 60,000-square-foot Rajmahal Theatre will feature state-of-the-art LED stage backdrops, along with VIP boxes and exclusive lounges for private events and galas.

     

    Wizcraft uses the latest live entertainment technology to create immersive entertainment experiences for audiences across the globe.

     

    Dubai Parks and Resorts CEO Raed Al Nuaimi said, “We are committed to providing an unforgettable experience for our guests, and we have partnered with the most creative minds in the industry that have a proven track record of producing world-class shows  and  events. We are very pleased to bring Wizcraft on board this unique project and we look forward to experiencing the excitement of the show when the first curtain rises.”

     

    Wizcraft director Viraf Sarkari added, “Wizcraft has produced some of the world’s largest shows and events, and we look forward to creating the largest Bollywood musical ever produced. We are very pleased to bring the magic of Bollywood to audiences in Dubai, and we are proud to partner with Dubai Parks and Resorts.” 

     

    Alongside Bollywood Parks Dubai, the first phase of this unprecedented project will include LegoLand Dubai and motiongate Dubai – connected by Riverland Dubai, a retail, dining and entertainment walkway. The development will also feature Lapita, a Polynesian-themed resort catering to families. Dubai Parks and Resorts is projected to attract 6.7 million visits during its first full year of operation.

     

  • Prime Focus sells UK broadcast post production biz to blue 2.0

    Prime Focus sells UK broadcast post production biz to blue 2.0

    MUMBAI: Prime Focus has sold its UK broadcast post production business to a new company called blue 2.0.

     

    Under the terms of the agreement, which both parties expect to be finalised in two weeks, blue 2.0 will take over the Prime Focus UK Broadcast facility at 58 Old Compton Street and the provision of its long-form, drama, short-form, entertainment and DI services.

     

    The new company will employ the majority of the current Prime Focus staff at Old Compton Street, and the phased transition of the business to the new owners will begin immediately. The specific terms of the transaction have not been disclosed and they do not exceed prudent financial materiality thresholds.

     

    Prime Focus is retaining its content services offering (which provides services to long-standing clients such as the BFI and the Imperial War Museum), and a number of large-scale contracts with clients such as Red Bee Media, a major car manufacturer and a global consumer product brand. These contracts will continue to be serviced by Prime Focus staff from the company’s facility at 2 Bourchier Street.

     

    Prime Focus managing director Ramki Sankaranarayanan said, “Following an extensive process in which we have considered a number of offers, Prime Focus has reached an agreement for the sale of its UK Broadcast Post offering. We would like to thank all of our UK Broadcast clients for their support over the years, and assure them that the phased transition of the business to the new owners has been constructed to be as seamless as possible. The divestment of this business allows us to concentrate our full efforts on our core creative services divisions (Prime Focus World and Double Negative) and our cloud technology business (Prime Focus Technologies) in addition to the broad spectrum of media services business in India.”

     

    blue 2.0 managing director Parvinder Bhatia added, “This deal marks the return of the iconic ‘blue’ brand in a new digital avatar – ‘blue 2.0’. Backed by a group of private equity investors, blue 2.0 will offer broadcast clients a boutique post production offering with a focused approach and a personalized service. blue 2.0 plans to be a major new player in the Broadcast post production space and plans are underway to add more capacity and additional service offerings such as VFX to the existing post offering very soon.”

     

    Having served as managing director of Prime Focus UK broadcast post production services for the last four years, Rowan Bray is moving on to explore new opportunities. Sankaranarayanan said: “I would like to thank Rowan for her commitment and tireless hard work over the last four years. Her dedication to providing the highest levels of customer service has been greatly appreciated, and we wish her all the best with the new opportunities that she is considering.”

  • Ultra to provide offline & online solutions to Marathi film industry

    Ultra to provide offline & online solutions to Marathi film industry

    MUMBAI: Ultra Media & Entertainment has ventured into offering end to end turnkey solutions for the Marathi film industry. To cater to the Rs 400 crore industry, growing at the rate of 25 per cent per annum, Ultra has setup a separate SBU to cater to the varied needs of the Marathi filmmakers. This unit will be driven by a core team in Mumbai, which is well versed with the Marathi film industry and will be serviced throughout Maharashtra.

     

    Additionally, the company, which has earlier produced and distributed Marathi films like Gondya Martay Tangada, Lonavala Bypass; Houn Jau De and Saalina Kela Ghotala, is looking at re-entering the space. Ultra Media & Entertainment MD Sushil Kumar Agrawal said, “Ultra has plans to produce Marathi films in the near future.”

     

    Under this vertical, Ultra will provide various offline and online, state of the art services for the Marathi film makers who have the script, finance, star cast and locations ready for their film. The array of offerings provided for the completion of their films will be as follows:

     

    – Cameras on rental

    – Post Production

    –  Media Buying & Planning: Print, Electronic, Digital, Radio, Online etc

    –  Marketing: BTL activities & ground events with star cast across various target centres in association with brands

    –  Promotions: Publicity Design, Branding, In Theatre promotions, Theatrical trailers

    –  Marketing: Branding, Media Tie-ups, Marketing Alliances, Hospitality Partnerships, Public Relation Campaigns

    –  Outdoor Campaign: Billboards, Bus Shelters & Panels, OOH Media

    –  Revenue Generation: In-Film and Co-branding associations

    –  Content Syndication: Music, Satellite, Home Video, Digital & Emerging media rights

    –  Digital & Social Media: Website Designing, Facebook, Pinterest, Twitter & Instagram campaigns, Blog Updates, SEO maintenance

    –  Distribution: Domestic & overseas in theatrical and other allied formats

     

    In its endeavour to provide a one stop shop service for the Marathi film industry from shooting the first scene to the end DPX/ DCP format, Ultra Media & Entertainment will also provide them with its in-house post production facilities. The studio based in Mumbai offers a range of services through its indigenous softwares and latest technologies including dubbing, sound recording, mixing, editing, VFX and other related facilities; digital intermediate (DI) and Colour Grading (CG); 2D to 3D Stereoscopic Conversion; Digitisation in various formats; Content scale up from SD to 4K and 6K formats; Frame by frame restoration in various formats; Colorisation from B/W to colour; Editing, Audio and Sound Engineering and technology and manpower to shoot films in the original 3D format.

     

    In the recent past, Ultra has released music rights in audio CDs, mp3 formats and executed social media marketing campaigns for Marathi films like IPL, Samarthya, Ekta Ek Power, Pehli Bhet, Ghungarachya Nadat and Friendship B Alert.

     

    Agrawal added, “Since 1986, we have been in the forefront in producing and distributing various interesting content worldwide. Foraying into offering various turnkey services under one roof for the Marathi film industry makes a logical extension for our business portfolio. This industry is going through a very interesting phase currently and we would like to do our bit for the talented film makers, who are churning some very interesting content for the global audience. Along with the government, which has taken various measures to boost this industry, we also would like to support them in offering our expertise and services in a very cost effective form. Ultra also has plans to produce Marathi films in the near future.”

  • Prime Focus company Double Negative bags VFX Oscar for ‘Interstellar’

    Prime Focus company Double Negative bags VFX Oscar for ‘Interstellar’

    MUMBAI: VFX house Double Negative, which is a part of Prime Focus Media Services bagged the Academy Award for visual effects for their spectacular work on Christopher Nolan’s Interstellar.

     

    The award was presented to one of the founding members of Double Negative and VFX supervisors Paul Franklin and Andrew Lockley, SFX Supervisor Ian Hunter and New Deal Studios’ VFX supervisor Scott Fisher at the 87th Annual Academy Awards held on 22 February at the Kodak Theater in Los Angeles.

     

    This is the second Oscar for Double Negative and Franklin, having previously won for Nolan’s Inception. Interstellar beat other nominees that included Captain America: The Winter Soldier, Dawn of the Planet of the Apes, Guardians of the Galaxy and X-Men: Days of Future Past. A week ago Double Negative had also won the BAFTA for Special Visual Effects for the same film.

     

    Prime Focus founder, executive chairman and global CEO Namit Malhotra said, “This is an incredibly proud moment for all of us at Prime Focus and Double Negative. I want to congratulate, Alex (Hope), Matt (Holben), Paul (Franklin) and the entire team of Double Negative for bringing home this exceptional honor. I have always been a great admirer of Mr. Nolan’s films and hence it is really heartening for me to see our work on Interstellar being recognized as the world’s best. On this joyous occasion I want to reaffirm our commitment to help Double Negative continue on its path of creative excellence that is second to none.”