Cinram Retains Adviser To Study Strategic Options
The Canadian replicator, impacted by the DVD and video games slump, has hired Moelis & Company evaluate its options.
TORONTO - Canadian replicator Cinram International Income Fund, a key industry barometer for DVD and Blu-Ray sales, has retained a strategic adviser to consider its options.
Toronto-based Cinram makes and distributes packaged media for the major studios, and has been heavily impacted as video game and DVD sales suffer due to industry softness and a shift of entertainment content to digital platforms.
So the Canadian company late Thursday said it has hired investment bank Moelis & Company “to undertake a comprehensive and thorough review of the strategic alternatives for the fund.”
Cinram did not specify whether putting itself up for sale is in the cards, and gave no assurance that a “specific action or transaction” will follow.
But the replicator added it will not talk publicly about its evaluation of strategic alternatives “unless and until the board of trustees approves a transaction.”
Cinram in recent years has struggled for new business after losing a key contract to Technicolor to replicate and distribute DVD and Blu-ray discs for Warner Bros. Video.