MONTREAL — Astral Media announced Tuesday that it has sold its AstralTech video duplication and distribution business to Technicolor for C$26.5 million ($18.2 million).
The AstralTech Video Duplication Centre includes the duplication plant and distribution center in Montreal and distribution facilities in Toronto and Calgary.
The sale does not include the Astral Home Entertainment videocassette wholesaling and marketing operations.
The sale is part of Astral’s long-term plan to focus exlcusively on the specialty and pay-TV area, radio and new media, said Astral Media CEO Ian Greenberg.
AstralTech is the exclusive duplicator of Disney videos in Canada and Disney will maintain its duplication work at the plant.
“Although the video duplication business no longer fit in with our long-term plans, we are pleased that Technicolor will not only retain all the AstralTech facilities and employees, including top management, but will move Technicolor’s existing Toronto-based operations to the Montreal plant,” said Greenberg.