The activities sold to date account for more than two thirds of the total revenues of activities included in the disposal program.
Paris (France), 3 January 2011 - Technicolor (Euronext Paris: TCH ; NYSE: TCH) announces the completion of the sale of its Grass Valley Broadcast business to Francisco Partners on 31 December 2010, as expected in the offer received in July 2010 and according to the terms detailed in the Company’s 26 July 2010 press release.
Following this disposal, the sale of Screenvision US announced on 14 October 2010, and the binding offer from PARTER Capital Group for the Grass Valley transmission business announced on 23 December 2010, most of Technicolor’s non-strategic activities disposal program will have been completed. The activities sold to date account for more than two thirds of the total revenues of activities included in the disposal program.
The disposal process for the Head-End business and for PRN continues.
Technicolor is a company listed on NYSE Euronext Paris and NYSE stock exchanges, and this press release contains certain statements that constitute "forward-looking statements" within the meaning of the "safe harbor" of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the future results expressed, forecasted or implied by such forward-looking statements. For a more complete list and description of such risks and uncertainties, refer to Technicolor’s filings with the U.S. Securities and Exchange Commission and its filings with the French Autorité des marchés financiers.
Technicolor is home to industry-leading creative and technology professionals committed to the creation, management and delivery of entertainment content to consumers around the world. Propelled by a culture of innovation and underpinned by a dedicated research organization, the company’s thriving licensing business possesses an extensive intellectual property portfolio focused on imaging and sound technologies. Serving motion picture, television, and other media clients, the company is a leading provider of high-end visual effects, animation, and postproduction services. In support of network service providers and broadcasters globally, Technicolor ranks among the worlds’ leading suppliers of digital content delivery services and home access devices, including set-top boxes and gateways. The company also remains a large physical media service provider, being one of the world’s largest film processors and independent manufacturers and distributors of DVDs and Blu-ray™ discs.
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