One of the best known names in Hollywood is set to expand, but not in its legacy pre- and post-production/colour grading businesses. That division was sold to Streamland Media a few weeks ago. Now Technicolor says it is focusing on the next chapter.
Technicolor was first established more than 100 years ago in 2016 and was the second major colour film process. Its 3-strip color system was used in some of the best-known movies not least Snow White & the Seven Dwarfs, The Wizard of Oz, The Adventures of Robin Hood and Gone With the Wind.
But the company has struggled for some years. In 2020, then owned by Thomson of France, it went through a Chapter 15 restructuring. Streamland bought Technicolor’s post-production business which it will merge with its other well-regarded subsidiaries including The Farm Group, Ghost VFX and Finale Post.
The core Technicolor, or what is left of the original, says it will now focus on Visual Effects and Animation and is looking to potentially double the size of its feature animation work.
May 19th saw the relaunch of the business with Technicolor Creative Studios (TCS) which will include The Mill, MPC Advertising, Mr X, Technicolor Games and Mikros Animation.
MPC boss Christian Roberton is the new head of TCS and with overall CEO Richard Moat reminds everyone that they are very much in business with its VFX and animation sectors already employing almost 8000 staff. The news is that their intention is to see that business grow to 11,000-12,000 in the next year or so.