TECHNICOLOR: DVD SERVICES BUSINESS UPDATE
(Thomson Reuters ONE) -
Technicolor: DVD Services business update
Paris (France), 2 November 2015 - Technicolor (Euronext Paris: TCH; OTCQX:
TCLRY) is in advanced negotiations with two large US customers to assume their
contracts for the replication and distribution of packaged media products (DVD
and Blu-ray(TM) discs) in North America.
In order to support these customers, Technicolor has agreed to purchase relevant
North American optical disc manufacturing and distribution assets from Cinram
Group, Inc. The resulting expanded operational platform could also serve to
support other new customer additions in North America, in a manner consistent
with the Group's strategy of optimizing the operating leverage of its packaged
media products activities. The purchase agreement with Cinram Group, Inc. is
subject to obtaining certain consents as well as other customary closing
conditions.
The transfer of the contracts and assets to Technicolor could occur as early as
November 2015.
The customer contracts, if concluded, would add in excess of ?190 million in
annualized revenues to Technicolor's Entertainment Services segment. This would
have no impact on the Group's Adjusted EBITDA and Free Cash Flow objectives for
2015. The purchase price for the Cinram assets, net of working capital
adjustments, is expected to be in the range of ?35 million to ?40 million, at
current exchange rates, and would be entirely funded out of available cash.
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About Technicolor
Technicolor, a worldwide technology leader in the media and entertainment
sector, is at the forefront of digital innovation. Our world class research and
innovation laboratories enable us to lead the market in delivering advanced
video services to content creators and distributors. We also benefit from an
extensive intellectual property portfolio focused on imaging and sound
technologies, based on a thriving licensing business. Our commitment: supporting
the delivery of exciting new experiences for consumers in theaters, homes and
on-the-go.
www.technicolor.com - Follow us: (at)Technicolor - linkedin.com/company/technicolor
Technicolor shares are on the NYSE Euronext Paris exchange (TCH) and traded in
the USA on the OTCQX marketplace (OTCQX: TCLRY).
Media Contact
Sandra Carvalho: +1 323 208 2624
sandra.carvalho(at)technicolor.com
Investor Relations
Emilie Megel: +33 1 41 86 61 48
emilie.megel(at)technicolor.com
Laurent Sfaxi: +33 1 41 86 58 83
laurent.sfaxi(at)technicolor.com
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Source: TECHNICOLOR via GlobeNewswire
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Datum: 02.11.2015 - 17:48 Uhr
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