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Technicolor Creative Studios — the visual effects, animation and gaming division of Technicolor — was listed and began trading this morning as a stand-alone company under the symbol TCHCS on Euronext Paris.
Trading opened at €1.9539 per share (roughly $0.96 USD). According to the company, 65 percent of its shares were distributed to Technicolor shareholders.
The remainder of the company — the connected home and supply chain services (DVD mastering and distribution) divisions — will remain listed on Euronext Paris under its new name, Vantiva. That company retained a 35 percent stake in Technicolor Creative Studios, according to Technicolor Creative Studios CEO Christian Roberton.
Paris-headquartered Technicolor Creative Studios encompasses VFX studios MPC and The Mill, Mikros Animation and Technicolor Games. Current and upcoming work includes the VFX on Disney’s The Little Mermaid and Mufasa, as well as HBO Max’s House of the Dragon. In all, the company employs 11,700 people in 11 countries.
Upcoming plans for Technicolor include the opening of a Los Angeles campus later this year in Culver City, which will house all of the studio brands under one roof and include a new virtual production stage.
“My ambition is to build the world’s most successful visual arts company,” Roberton said, noting that the stand-alone company will provide a “clearer proposition for investors” by focusing on clients in entertainment and filmmaking.
In 2021, France-headquartered Technicolor sold its postproduction business for $36.5 million to Streamland Media, the parent of post business Picture Shop. That followed a restructuring in 2020, after filing for bankruptcy under Chapter 15.
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