May 27, 1997
Panavision Inc. saw its net income more than double in its first quarter while its revenues climbed by 24%. The Woodland Hills-based camera equipment concern posted net income of $3.5 million in the quarter that ended March 31, compared to $1.2 million in the same period a year earlier. Revenues in the latest quarter rose to $31.2 million, up from $25.2 million. The company attributed its improved results in part to its acquisition of Lee Lighting last July.
October 2, 2002 |
COURTS * M&F Worldwide Inc. won a judge's approval to settle a lawsuit challenging the fairness of the company's $128-million purchase of billionaire Ronald Perelman's stake in movie camera maker Panavision Inc. Licorice processor M&F and controlling director Perelman were sued in Delaware Chancery Court in 2000 by shareholders who said the financier was selling his 83% stake in Panavision to get rid of an under-performing investment.
April 25, 2006 |
Shares of Panavision Inc., a maker of movie cameras, more than doubled after co-Chairman Ronald O. Perelman offered to buy the portion of the company that he didn't already own. In a letter to Panavision's board, Perelman's MacAndrews & Forbes Holdings Inc. offered $8 a share in cash for Woodland Hills-based Panavision, the company said in a government filing.
December 3, 2006 |
Four years ago the picture was bleak for Panavision Inc. Massive debt, bad management decisions and rapidly changing technologies threatened its stature as Hollywood's gold standard for cameras and lenses used in shooting television shows, movies and commercials. Now Panavision, whose logo on film credits has been familiar to moviegoers for decades, is regaining its focus.
May 30, 1999 |
Nine out of 10 Hollywood blockbusters end with the same three words: "Filmed in Panavision." In the 40 years since Panavision lenses were first affixed to movie cameras, the Woodland Hills-based company has become the tool of choice for top filmmakers worldwide. Its inventory of precision equipment is unrivaled. Its brand strength remains essentially unchallenged. But over the last year, Panavision Inc. hasn't performed like an industry leader. Quarter by quarter, it continues to lose money.
May 5, 1992 |
During the filming of "Backdraft," the 1991 movie about Chicago firefighters, cinematographer Mikael Salomon donned fire-retardant clothing and carried a camera through burning buildings. Then he poured flammable glue over the camera--which was encased in protective housing--and left it running as the inferno closed in around it. Later, the film crew dug through the ashes and rubble and removed the camera. It was undamaged.
September 3, 1987 |
Frederick W. (Ted) Field, a film producer and an heir to the Marshall Field department store fortune, has agreed to sell the movie industry's prestigious camera supplier, Panavision, to a British firm for $147 million, it was announced Wednesday. The price for the Tarzana firm includes $100 million cash, with purchaser Lee International of London assuming $47 million of debt, the parties said. Field has controlled Panavision since 1985 through his 100%-owned Interscope Communications.
August 30, 1988 |
Last Oct. 13, former film lighting electricians John and Benny Lee seemed to be on top of the world. The British brothers had just bought Panavision, the Tarzana company that supplies 35-millimeter cameras and accessories to cinematographers in the movie and TV industry. That same day, the Lees bought out the public shareholders of Lee International, their London entertainment services conglomerate. The two deals cost $327 million.