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.


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