PARIS, France and BURBANK—Oct 16, 2007
Thomson Signs Exclusive Long-Term Agreement with Overture Films to Provide Range of Film & Distribution Services
Technicolor to Provide Film Laboratory and Cinema Distribution Services
Thomson (Euronext 18453; NYSE: TMS), through its Technicolor Services division announced it has signed an exclusive long-term agreement with Overture Films, a film studio backed by Liberty Media and Starz, LLC, to provide worldwide film laboratory and cinema distribution services.
Overture Films’ CEO Chris McGurk said, “We’ve had a strong relationship with the entire Technicolor management team for many years now, and we are thrilled to once again partner with such an innovative and high quality organization.”
According to Danny Rosett, COO, Overture Films, “Technicolor is differentiated by its unique, clearly-stated strategy and understanding of the industry’s digital transformation. As a result, we’re confident in its ability to provide the industry’s most comprehensive film and distribution services that Overture Films needs as a new studio.”
“We are very pleased to partner with such a dynamic independent film studio such as Overture Films,” said Lanny Raimondo, senior executive vice president of Thomson, and CEO of Technicolor. “Our team has a tremendous amount of respect for Chris McGurk and Danny Rosett, and with an exciting line-up of films slated for release in 2008, we look forward to developing a mutually beneficial relationship that will capitalize on the fast-changing world of filmmaking as we make the transition towards digital.”
Under the terms of this exclusive long-term agreement, Technicolor will provide Overture Films with an extensive range of worldwide film laboratory services, including 35mm trailer and release printing and front-end negative processing; cinema distribution services, including, film distribution, security screening, advertising/publicity services, print rejuvenation, archival, inventory storage and destruction, and other special projects.
Thomson’s Services division offers the industry’s most comprehensive portfolio of capabilities from its nine full-service film laboratories in Los Angeles, New York, Montreal, Toronto, Vancouver, London, Rome, Madrid and Bangkok. The company is also among the world’s largest processor of front-end and bulk release film prints, with the ability to process more than five billion feet of release prints annually for the most highly-regarded names in U.S. moviemaking including DreamWorks Animation, New Line Cinema, Paramount, Universal Pictures, The Walt Disney Company and Warner Bros.
Overture Films is an operating unit of Starz, LLC, which in turn is a wholly owned subsidiary of Liberty Media Corporation that is attributed to Liberty Capital Corp. Overture Films has several theatrical releases slated for 2008, including Righteous Kill with Robert DeNiro and Al Pacino; Mad Money with Katie Holmes, Queen Latifah and Diane Keaton; Sleepwalking with Charlize Theron, Dennis Hopper and Woody Harrelson; Traitor with Don Cheadle and Guy Pearce; and Last Chance Harvey with Emma Thompson and Dustin Hoffman.