Technicolor Post sent out a notice on Friday announcing that it is “nearing the end of its 100+ year journey in Glorious Technicolor.”
“Starting May 1st, we will become integrated into Streamland Media’s portfolio of Post-Production businesses,” the notice read. “Our incredible people, services and production technology will be coming with us on this journey. All that will change are the names of the brands associated with our picture, sound, VFX and marketing services teams.” According to the notice, a press release will be distributed next week.
Streamland Media — the parent of leading audio post facility Formosa Group as well as companies such as Picture Shop and Picture Head — announced in January its plans to acquire Technicolor’s postproduction business for $36.5 million, backed by Trive Capital and Five Crowns Capital.
As previously announced, plans call for the Technicolor Post business to be merged with L.A.-headquartered Streamland’s post businesses, which also include Ghost VFX, The Farm Group, and Finalé Post — all expanding the company’s talent pool and reach in the U.S., Canada, Europe and the U.K.
While Streamland didn’t immediately comment, Sherri Potter, Technicolor’s president of global post, is now listed as leading picture services including Picture Shop, The Farm and Ghost VFX on Streamland’s website.
The Technicolor notice did reveal that its collaboration app for remote review sessions will be rebranded at “Tecstream” as part of Streamland Media’s acquisition of Technicolor Post.
Technicolor is one of Hollywood’s largest and oldest players in the postproduction business. With the acquisition, Technicolor — a century-old brand synonymous with motion picture color and widely recognized for its contributions to classics like 1939’s The Wizard of Oz — effectively exits the color-grading business. (In fact, the Hollywood Chamber of Commerce presented Technicolor with a star of recognition for its Centennial in 2016.)
It’s not a secret that Technicolor had been struggling; in 2020 the France-headquartered business went through a restructuring after filing for bankruptcy under Chapter 15. Technicolor, however, does remain in the business through its technical services and notably its visual effects companies MPC, The Mill, Mr. X and Mikros Animation, which are not part of the Streamland deal.
In April, Streamland announced additional plans to acquire Sim Video International’s post business. That deal is expected to close in the first half of this year.