Ascent Media Corporation (NASDAQ: ASCMA) is a holding public company [1] whose primary subsidiary is Ascent Media Group, LLC. Ascent Media Group is a Delaware limited liability company ("Ascent Media"), which provides creative and technical services to the media and entertainment industries.[2] Ascent Media was a wholly-owned subsidiary of the Discovery Holding Company (DHC). DHC spun-off Ascent Media as an independent, public company on September 17, 2008 [3].
The company's main activity is to provide creative services and content for television and film industries in the United States, Singapore and the United Kingdom. In addition, they offer management, distribution and production services. Their content providing services include the creation, management and distribution of content to 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.[4] In addition to Ascent Media's commercial services, the company has also won Academy Awards for best sound and technical achievement.
Ascent Media is organized into two segments: businesses that provide content management and delivery services and businesses that provide creative services. The content services businesses provide fully integrated content delivery services to its customers. The creative services businesses focus on providing post-production services to the television and movie industry.[5] Ascent markets its creative services under various brand names with in the entertainment industry including; Beast, Company 3, Encore Hollywood, Level 3 Post, Method, RIOT Atlanta, Rushes, Soho Film Lab, and Ascent 142.
- Creative Services (partial list): Editorial, Visual Effects, Digital Intermediate, Telecine, DiTV, DVD/Blu-ray, 3D and CG Animation, HD and SD Color Correction, Film Restoration and Preservation
- Content Services (partial list): Digital Asset Management, Multiplatform Repurposing and Delivery, Supply Chain Management, Digital Cinema, Syndication, Video-on-Demand, Advertising Solutions, Network Solutions, Global Interconnect, Systems Integration and Consulting
History
The assets and operations of Ascent Media Group are composed primarily of the assets and operations of various businesses acquired from 2000 through 2004, including The Todd-AO Corporation, Four Media Company, Video Services Corporation, Group W Network Services, London Playout Centre and the systems integration business of Sony Electronics. The combination and integration of these and other acquired entities allows AMG to offer integrated outsourcing for the technical and creative requirements of its clients, from content creation and other post-production services to media management and transmission of the final product to broadcast television stations, cable system head-ends and other destinations and distribution points." [6]
- 1999: Ascent Media formed through the acquisition of three postproduction companies: Todd-AO Corporation, Four Media Company, and certain assets of Soundelux Entertainment Group using Liberty Media stock valued at more than $400 million US dollars.
- 2005: Ascent Media announces deal with Sony Pictures Entertainment to convert Sony's library of more than 4,000 films and many of its vintage TV shows into digital files. "As envisioned by Sony and Ascent Media, files that are now delivered manually to distributors such as the Starz Encore pay-TV service would be transferred instead as digital files over a secure network."[7]
- 2006: Discovery Holding Company acquires AccentHealth to be overseen by Ascent Media. Discovery Holding's press release reported, "Delivered to over 11,200 medical waiting rooms nationwide, AccentHealth's programming and sponsor messages are delivered to over 19 million health conscious consumers each month."[8]
- 2007: During the fourth quarter of 2007, the Board of Directors of DHC approved a resolution to spin off the capital stock of AMC to the holders of DHC Series A and Series B common stock. Each owner of Series A common stock is allowed 1 vote per share of voting power and Series B common common stock owners are allowed 10 votes per share.[9]
- 2008: On September 4, 2008, Ascent Media completed the sale of 100% of the ownership interests in AccentHealth to an unaffiliated third party for net cash proceeds of $118,643,000.
- 2008: The AMC Spin Off was completed on September 17, 2008. Following the AMC Spin Off, AMC and DHC operate independently, and neither has any stock ownership, beneficial or otherwise, in the other.
[10]
- 2008: Ascent Media Group's Creative Sound Services group spun off from Discovery Holding Company to create CSS Studios, LLC, a wholly-owned subsidiary of Discovery Communications. This included the assets of Todd-AO, Soundelux, Sound One, POP Sound, Modern Music, Soundelux Design Music Group and The Hollywood Edge.[11]
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