Kodak sells LaserPacific Media

The Hollywood post-production facility will join H.I.G. Capital.

By TheWrap Feb 2, 2010 9:44PM
LaserPacific Media, a post-production facility in Hollywood, has been sold by parent company Eastman Kodak to H.I.G. Capital, a private-equity firm, TheWrap has learned.

A deal has been signed, but official confirmation is not expected until it closes in the coming weeks. Under the agreement, LaserPacific will be affiliated with a family of post-production companies under H.I.G.

"This is a strategic decision to better position Laser while affording Kodak the opportunity to continue to participate in post-production services," David Lanzillo, a spokesman for Kodak, told TheWrap.


Layoffs were rumored to be ongoing Tuesday. Employees were sent home and told they would be notified about their future status with the company.


LaserPacific declined repeated calls for comment.


Kodak denied the layoff reports, however, and said it expects most of LaserPacific's 250-plus employees to transition to the new H.I.G.-operated entity.


Related articles

Ben Silverman back in business with Shine

NBC cuts Coco from 30 Rock lobby

Weinsteins circle back to buy Miramax from Disney

TheWrap is a unique primary news source focused on the business of entertainment and media. Offering its readers original reporting, exclusive contributions from industry readers and curated news from around the globe, The Wrap is led by award-winning journalist and author Sharon Waxman, with a team of veteran entertainment writers and editors including Josef Adalian, Lew Harris, Josh Dickey and Dylan Stableford.


0Comments

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

STOCK SCOUTER

StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.

117
117 rated 1
280
280 rated 2
478
478 rated 3
656
656 rated 4
650
650 rated 5
640
640 rated 6
647
647 rated 7
482
482 rated 8
277
277 rated 9
126
126 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
AAPLAPPLE Inc10
ATVIACTIVISION BLIZZARD Inc10
CTSHCOGNIZANT TECHNOLOGY SOLUTIONS10
FOXATWENTY-FIRST CENTURY FOX Inc CLASS A10
ITUBITAU UNIBANCO BANCO MULTIPLO S.A.10
More

VIDEO ON MSN MONEY

ABOUT

Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.

Contributors include professional investors and journalists affiliated with MSN Money.

Follow us on Twitter @topstocksmsn.