Kodak sells LaserPacific Media
The Hollywood post-production facility will join H.I.G. Capital.
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
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The solid report comes a month after the retailer closed all of its Canadian operations.
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