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Technicolor Purchases Firm for $48 Million

March 21, 2000|BARBARA MURPHY

Technicolor in Camarillo, one of the world's largest processors of motion picture film, has acquired Consolidated Film Industries for $48 million in cash.

CFI is a Hollywood-based film processor specializing in large-film formats and specialized services for a wide range of customers. The acquisition is part of Technicolor's plan to expand its global film services.

"Combining Technicolor and CFI, with its big-screen expertise, is another great step forward," said Lanny Raimondo, Technicolor's chief executive.

CFI works with IMAX and leading Hollywood studios, including Sony, Universal, MGM, Paramount, Disney and independents such as USA Films and Lakeshore. Technicolor, a wholly owned subsidiary of Carlton Communications, serves such Hollywood studios as Disney, Warner Bros., DreamWorks SKG, 20th Century Fox, Destination and USA Films.

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