You will be redirected back to your article in seconds

Matthews to buy Duke City

Matthews Studio Equipment Group has signed a letter of intent to acquire an Albuquerque, N.M., video product company in a cash, stock and debt assumption deal worth $12 million, company officials said Wednesday.

Officials from the Burbank-based supplier of lighting and grip equipment said the acquisition of privately held Duke City Video will significantly increase the company’s reach in New Mexico and Texas, as well as expand its operations in Southern California.

Previously, Matthews had agreed to purchase only Duke City’s lighting and equipment business, but not its video unit. Duke City prexy Jay Leftkovitz will be in charge of Matthews’ new video division.

“The addition of the video equipment rental business to Matthews will complement our current product lines, and the additional technical and marketing expertise currently within Duke City should provide benefit to the entire Matthews group,” Matthews chairman and CEO Carlos DeMattos said in a statement.

Matthews stock closed Wednesday at $2.53, up 15.6¢ in Nasdaq trading.

More Scene

  • UnReal Athena Film Festival

    How Trump Beating Clinton Impacted the Gender Politics of 'UnReal' Season 3

    Matthews Studio Equipment Group has signed a letter of intent to acquire an Albuquerque, N.M., video product company in a cash, stock and debt assumption deal worth $12 million, company officials said Wednesday. Officials from the Burbank-based supplier of lighting and grip equipment said the acquisition of privately held Duke City Video will significantly increase […]

  • 'Unsolved: The Murders of Tupac and

    'Unsolved' Stars Point Out Racial Injustice in Biggie and Tupac Murder Cases

    Matthews Studio Equipment Group has signed a letter of intent to acquire an Albuquerque, N.M., video product company in a cash, stock and debt assumption deal worth $12 million, company officials said Wednesday. Officials from the Burbank-based supplier of lighting and grip equipment said the acquisition of privately held Duke City Video will significantly increase […]

  • Taura Stinson, Common, and Diane WarrenVariety

    Common, Pasek and Paul, Diane Warren Reveal Inspiration Behind Oscar-Nominated Songs

    Matthews Studio Equipment Group has signed a letter of intent to acquire an Albuquerque, N.M., video product company in a cash, stock and debt assumption deal worth $12 million, company officials said Wednesday. Officials from the Burbank-based supplier of lighting and grip equipment said the acquisition of privately held Duke City Video will significantly increase […]

  • 'Game Night' film premiere

    'Game Night': Director, Writer Talk 'Straddling Genres' and the Influence of 'Get Out'

    Matthews Studio Equipment Group has signed a letter of intent to acquire an Albuquerque, N.M., video product company in a cash, stock and debt assumption deal worth $12 million, company officials said Wednesday. Officials from the Burbank-based supplier of lighting and grip equipment said the acquisition of privately held Duke City Video will significantly increase […]

  • Esquire 'Mavericks of Hollywood' party

    Terry Crews on His Sexual Assault Lawsuit: 'If I Don’t Get Justice, Nobody Can'

    Matthews Studio Equipment Group has signed a letter of intent to acquire an Albuquerque, N.M., video product company in a cash, stock and debt assumption deal worth $12 million, company officials said Wednesday. Officials from the Burbank-based supplier of lighting and grip equipment said the acquisition of privately held Duke City Video will significantly increase […]

  • 20th Annual Costume Designers Guild Awards

    'I, Tonya,' 'The Shape of Water' Win at 2018 Costume Designers Guild Awards

    Matthews Studio Equipment Group has signed a letter of intent to acquire an Albuquerque, N.M., video product company in a cash, stock and debt assumption deal worth $12 million, company officials said Wednesday. Officials from the Burbank-based supplier of lighting and grip equipment said the acquisition of privately held Duke City Video will significantly increase […]

More From Our Brands

Access exclusive content