CINRAM INTERNATIONAL ACQUIRES 1K STUDIOS
Poster: SySAdmin
Posted on January 31, 2011 at 12:35:01 PM
CINRAM INTERNATIONAL ACQUIRES 1K STUDIOS
Move Positions Hollywood's Leading Media Manufacturer and Logistics
Provider for Growth in Emerging Technology and Digital Content Delivery
TORONTO, Jan. 31 /PRNewswire-FirstCall/ - Cinram International Income Fund ("Cinram" or
the "Fund") (TSX: CRW.UN), today announced the acquisition of Los
Angeles-based digital media company 1K Studios. The move is part of a
broad initiative to advance Cinram, a provider of media delivery
services around the world, further into digital platforms.
1K specializes in building enhanced consumer experiences for movies, TV
shows, music, books and games. The company has been a key service
provider to many of the world's top media & technology companies
including Paramount Home Entertainment, Apple, HBO, and Warner Bros
Home Entertainment. 1K provides creative and technical services to
these companies to help them release their content in different venues
including digital downloads, mobile and tablet apps, advanced Blu-ray
discs, stereoscopic 3D and social media.
These services will be integrated with Cinram's existing media
production and logistics business, creating an end-to-end supply chain
with significant competitive advantages for its customers. The new
expertise will play an important role in Cinram's effort to identify
and evaluate additional opportunities to add to the company's client
offering.
"In the ever-evolving digital landscape, we must adapt our business
model to meet our partners' needs," said Steve Brown, Chief Executive Officer for Cinram International, Inc. "No matter how the delivery methods change, consumers continue to
demand exciting experiences. 1K Studios is proven in delivering
innovative, creative and valuable digital content. I'm convinced that
with our combined resources and know-how we'll offer clients a superior
service."
"Cinram has a long history of re-inventing itself as media has advanced
over the decades. We're excited by the challenge of helping to bring
about another transformation" said Matt Kennedy, co-founder of 1K Studios. "We're very enthusiastic about the prospects of our ideas, and emerging
businesses being fostered inside Cinram's global business
infrastructure."
The deal will consolidate a network of client relationships that
includes all of the major U.S. and European movie and TV studios,
record companies, and game distributors, as well as numerous publishers
and technology companies. .
1K Studios management and team of specialized designers, programmers,
information architects, animators and content producers will continue
to operate from their existing Los Angeles studio.
Watch our Video
Cinram International Inc., an indirect, wholly-owned subsidiary of the Fund, is one of the
world's largest providers of pre-recorded multimedia products and
related logistics services. With facilities in North America and
Europe, Cinram International Inc. manufactures and distributes
pre-recorded DVDs, audio CDs, and CD-ROMs for motion picture studios,
music labels, publishers and computer software companies around the
world. Cinram now also provides distribution and logistics services to
the telecommunications industry in North America through its wireless
subsidiaries. The Fund's units are listed on the Toronto Stock Exchange
under the symbol CRW.UN. For more information, visit our website at http://www.cinram.com .
1K|Studios is a digital media firm based in Los Angeles and founded in 1998. The
company specializes in building enhanced consumer experiences for
movies, TV shows, music, books and games. 1K was recently involved in
the launch of Apple's iTunes Extras and LP enhanced digital download
format, helping several studios and record companies design, program
and deliver movies and music using the new formats. Their work is
featured in various forms on hundreds of top-selling Blu-ray releases,
including three top honor award winners at Variety Magazine's Home
Media Awards this fall: Paramount's Star Trek, HBO's True Blood series
and Warner Brothers' Wizard of Oz Collector's Edition. The company is
also currently developing several iPad applications to be announced in
the coming months.
Certain statements included in this release constitute "forward-looking
statements" within the meaning of applicable securities laws. Such
forward-looking statements include statements concerning the possible
effects of the transactions described herein, and the likelihood of
their successful completion. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Fund, or
results of the multimedia duplication/ replication industry, to be
materially different from any future results, performance or
achievements expressed or implied by such forward looking statements.
Such factors include, among others, the following: the Fund's ability
to retain major customers; general economic and business conditions,
which will, among other things, impact the demand for the Fund's
products and services; multimedia replication industry conditions and
capacity; the ability of the Fund to implement its business strategy;
the Fund's ability to invest successfully in new technologies and other
factors which are described in the Fund's filings with the securities
commissions. These risks may affect the achievement of the expected results of the
transactions described herein. There can be no assurance that the said
transactions will be successfully completed or that, if completed, the
expected consequences will result in whole or in part, and the
deviations from such expectations may be material.
SOURCE Cinram International Income Fund
Cinram International Income Fund
CONTACT: <p></p> <p>John H. Bell<br/> Tel: 416.332.2902<br/> <a href="mailto:johnbell@cinram.com" cr="true">johnbell@cinram.com</a></p>
Move Positions Hollywood's Leading Media Manufacturer and Logistics
Provider for Growth in Emerging Technology and Digital Content Delivery
TORONTO, Jan. 31 /PRNewswire-FirstCall/ - Cinram International Income Fund ("Cinram" or
the "Fund") (TSX: CRW.UN), today announced the acquisition of Los
Angeles-based digital media company 1K Studios. The move is part of a
broad initiative to advance Cinram, a provider of media delivery
services around the world, further into digital platforms.
1K specializes in building enhanced consumer experiences for movies, TV
shows, music, books and games. The company has been a key service
provider to many of the world's top media & technology companies
including Paramount Home Entertainment, Apple, HBO, and Warner Bros
Home Entertainment. 1K provides creative and technical services to
these companies to help them release their content in different venues
including digital downloads, mobile and tablet apps, advanced Blu-ray
discs, stereoscopic 3D and social media.
These services will be integrated with Cinram's existing media
production and logistics business, creating an end-to-end supply chain
with significant competitive advantages for its customers. The new
expertise will play an important role in Cinram's effort to identify
and evaluate additional opportunities to add to the company's client
offering.
"In the ever-evolving digital landscape, we must adapt our business
model to meet our partners' needs," said Steve Brown, Chief Executive Officer for Cinram International, Inc. "No matter how the delivery methods change, consumers continue to
demand exciting experiences. 1K Studios is proven in delivering
innovative, creative and valuable digital content. I'm convinced that
with our combined resources and know-how we'll offer clients a superior
service."
"Cinram has a long history of re-inventing itself as media has advanced
over the decades. We're excited by the challenge of helping to bring
about another transformation" said Matt Kennedy, co-founder of 1K Studios. "We're very enthusiastic about the prospects of our ideas, and emerging
businesses being fostered inside Cinram's global business
infrastructure."
The deal will consolidate a network of client relationships that
includes all of the major U.S. and European movie and TV studios,
record companies, and game distributors, as well as numerous publishers
and technology companies. .
1K Studios management and team of specialized designers, programmers,
information architects, animators and content producers will continue
to operate from their existing Los Angeles studio.
Watch our Video
Cinram International Inc., an indirect, wholly-owned subsidiary of the Fund, is one of the
world's largest providers of pre-recorded multimedia products and
related logistics services. With facilities in North America and
Europe, Cinram International Inc. manufactures and distributes
pre-recorded DVDs, audio CDs, and CD-ROMs for motion picture studios,
music labels, publishers and computer software companies around the
world. Cinram now also provides distribution and logistics services to
the telecommunications industry in North America through its wireless
subsidiaries. The Fund's units are listed on the Toronto Stock Exchange
under the symbol CRW.UN. For more information, visit our website at http://www.cinram.com .
1K|Studios is a digital media firm based in Los Angeles and founded in 1998. The
company specializes in building enhanced consumer experiences for
movies, TV shows, music, books and games. 1K was recently involved in
the launch of Apple's iTunes Extras and LP enhanced digital download
format, helping several studios and record companies design, program
and deliver movies and music using the new formats. Their work is
featured in various forms on hundreds of top-selling Blu-ray releases,
including three top honor award winners at Variety Magazine's Home
Media Awards this fall: Paramount's Star Trek, HBO's True Blood series
and Warner Brothers' Wizard of Oz Collector's Edition. The company is
also currently developing several iPad applications to be announced in
the coming months.
Certain statements included in this release constitute "forward-looking
statements" within the meaning of applicable securities laws. Such
forward-looking statements include statements concerning the possible
effects of the transactions described herein, and the likelihood of
their successful completion. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Fund, or
results of the multimedia duplication/ replication industry, to be
materially different from any future results, performance or
achievements expressed or implied by such forward looking statements.
Such factors include, among others, the following: the Fund's ability
to retain major customers; general economic and business conditions,
which will, among other things, impact the demand for the Fund's
products and services; multimedia replication industry conditions and
capacity; the ability of the Fund to implement its business strategy;
the Fund's ability to invest successfully in new technologies and other
factors which are described in the Fund's filings with the securities
commissions. These risks may affect the achievement of the expected results of the
transactions described herein. There can be no assurance that the said
transactions will be successfully completed or that, if completed, the
expected consequences will result in whole or in part, and the
deviations from such expectations may be material.
SOURCE Cinram International Income Fund
Cinram International Income Fund
CONTACT: <p></p> <p>John H. Bell<br/> Tel: 416.332.2902<br/> <a href="mailto:johnbell@cinram.com" cr="true">johnbell@cinram.com</a></p>