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Ascent Media Group Announces Integration of Riot and Method
Posted by: gurufocus (IP Logged)
Date: December 11, 2008 12:05AM

SANTA MONICA, Calif.--(BUSINESS WIRE)--Ascent Media Group announced that beginning January 1, 2009, two of its boutique visual effects studios, Riot and Method, will unite operations under the Method name, to offer Press Release: Ascent Media Group Announces Integration of Riot and Method ASCENT MEDIA GROUP provides creative and network services to the media and entertainment industries in the United States the United Kingdom and Singapore. Ascent Media's clients include major motion picture studios independent producers broadcast networks cable programming networks advertising agencies and other companies that produce own and/or distribute entertainment news sports corporate educational industrial and advertising content. Santa Monica California-based Ascent Media through its Creative Services and Network Services divisions provides creative and technical media services to the media and entertainment industries. Ascent Media Corp. Series A has a market cap of $268.06 million; its shares were traded at around $19.48 . More on ASCMA: Gurus buys and sells of ASCMA 10-year financial history of ASCMA. Insider buys/sells of ASCMA.

Press Release:

SANTA MONICA, Calif.--(BUSINESS WIRE)--Ascent Media Group announced that beginning January 1, 2009, two of its boutique visual effects studios, Riot and Method, will unite operations under the Method name, to offer clients unmatched services for the delivery of high-end visual effects for commercials, music videos and feature films.

“By uniting our boutique visual effects studios we are better positioned to provide our clients with the best talent and creative services in the market,” said Jose Royo, CEO of Ascent Media Group. “This move will allow us to better offer our clients the most innovative, industry leading solutions in a rapidly changing advertising and media space.”

Method recently opened its office in New York and will unveil a new, state-of-the-art New York facility in the spring. Industry veteran Aron Hjartarson, previously Head of 3D at The Mill NY, will assume the role of creative director, and Matt Hackett will act as animation supervisor in New York. In addition, Gabby Gourrier, who spent nine years at Digital Domain and helped to open The Mill LA, has come onboard as Senior Executive Producer/VP. Gabby will be working closely with Helen Hughes, who joins as executive producer and director of production. Helen has produced numerous award-winning commercials including Nike’s “The Next Level” with Guy Ritchie.

Method’s operations in Los Angeles will be located at what was formerly Riot’s Santa Monica facility. Andy Boyd will serve as the new Head of 3D at Method Studios in Los Angeles. Andy brings a wealth of industry experience as the former Head of 3D at Framestore and a recipient of the 2006 Cannes Lion Awards for the Guinness NoitulovE commercial.

Alex Frisch, co-founder and managing director of Method, will continue overseeing Los Angeles and New York operations. Since Method’s opening in 1998, Alex has provided creative leadership and produced high-end visual effects. The integrated operations in both Los Angeles and New York will bolster Method’s unique, collaborative partnership with Company 3, which provides clients around the world with a full spectrum of state-of-the-art post production services.

“The integration of Method and Riot gives us the unique ability to package our respective services and offer the highest level of artistry, the most technologically advanced equipment and the most efficient workflows managed by the best team in the business,” said Stefan Sonnenfeld, colorist and Company 3’s co-founder. “With Andy, Aaron and Matt’s significant creative accomplishments, we are building the best roster of talent in the industry.”

About Ascent Media Group:

Santa Monica, California-based Ascent Media Group, LLC is a wholly-owned subsidiary of Ascent Media Corporation (Nasdaq: ASCMA), which provides creative and technical services to the media and entertainment industries. Through more than 40 facilities in regions of Southern California, New York, Atlanta, London and Singapore, Ascent Media provides effective solutions for the creation, management and distribution of content to major motion picture studios, independent producers, broadcast networks, cable channels, advertising agencies and other companies that produce, own and/or distribute entertainment, news, sports, corporate, educational, industrial and advertising content.

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Ascent Media Corporation and its subsidiaries or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors include, among others: the risks and factors described in the statements and reports of Ascent Media Corporation filed or furnished with the Securities and Exchange Commission (and publicly available at the Securities and Exchange Commission’s website, www.sec.gov); general economic and business conditions and industry trends; spending on television advertising, first-run content libraries and existing content libraries; the regulatory and competitive environment of the industries in which Ascent Media Corporation operates; rapid technological changes; future financial performance, including availability, terms and deployment of capital; changes in, or failure to comply with, government regulations, including, without limitation, regulations of the Federal Communications Commission, and adverse outcomes from regulatory proceedings; and competitor responses to Ascent Media Corporation’s products and services, and the overall market acceptance of such products and services, including acceptance of the pricing of such products and services. These forward-looking statements speak only as of the date of this Release. Ascent Media Corporation expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Ascent Media Corporation’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Source: BusinessWire More on ASCMA: Gurus buys and sells of ASCMA 10-year financial history of ASCMA. Insider buys/sells of ASCMA.


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