You will be redirected back to your article in seconds

Four Star Lighting sold

Deal inked at over $30 mil cash

Film equipment supplier Matthews Studio Group is selling its Gotham-based Four Star Lighting Co. division to the company’s existing management and a group of private investors for more than $30 million in cash, strategic alliances and long-term marketing and Internet agreements.

Four Star Lighting, founded in 1964, supplies theatrical equipment to the Broadway market. Its prexy, Darren P. DeVerna, will continue to head operations of the newly formed Four Star Lighting Group.

Burbank-based Matthews will retain its Four Star Lighting Hollywood business and consolidate those operations under the name Hollywood Rental Co.

Focusing on the Web

Matthews said the transaction reflects its strategy of divesting some of its capital-intensive operations, improving its balance sheet and adding resources to its investment in its showbizmart.com Web site.

The company has recently chosen to consolidate its brick-and-mortar divisions to focus more on the Internet.

“The planned sale of Four Star allows all of us at Matthews to completely focus on the implementation of our restructuring plans, and returns the helm of a strong niche market to the individuals who will find the most benefit from their localized market placement,” said Carlos DeMattos, chairman and CEO of Matthews Studio Group.

Matthews recently said it expects to report a loss of about $20 million for its fiscal year ended Sept. 30 after charges of $9.2 million for discontinued operations.

(Marc Graser contributed to this report).

More Biz

  • Jeremy PivenBUILD Speaker Series: Jeremy Piven,

    'Entourage' Extra Claims Jeremy Piven Assaulted Her in New Allegation

    Film equipment supplier Matthews Studio Group is selling its Gotham-based Four Star Lighting Co. division to the company’s existing management and a group of private investors for more than $30 million in cash, strategic alliances and long-term marketing and Internet agreements. Four Star Lighting, founded in 1964, supplies theatrical equipment to the Broadway market. Its […]

  • This, photo shows the 21st Century

    Comcast, Disney Keep Focus on 21st Century Fox Assets Despite AT&T-Time Warner Battle

    Film equipment supplier Matthews Studio Group is selling its Gotham-based Four Star Lighting Co. division to the company’s existing management and a group of private investors for more than $30 million in cash, strategic alliances and long-term marketing and Internet agreements. Four Star Lighting, founded in 1964, supplies theatrical equipment to the Broadway market. Its […]

  • Scorpion-cbs TV Show

    How Scooter Braun Turned Luck With First Series 'Scorpion' Into Prolific TV Business

    Film equipment supplier Matthews Studio Group is selling its Gotham-based Four Star Lighting Co. division to the company’s existing management and a group of private investors for more than $30 million in cash, strategic alliances and long-term marketing and Internet agreements. Four Star Lighting, founded in 1964, supplies theatrical equipment to the Broadway market. Its […]

  • Peter Thiel

    Billionaire Peter Thiel Sells Majority of Facebook Stake, Pocketing $29 Million

    Film equipment supplier Matthews Studio Group is selling its Gotham-based Four Star Lighting Co. division to the company’s existing management and a group of private investors for more than $30 million in cash, strategic alliances and long-term marketing and Internet agreements. Four Star Lighting, founded in 1964, supplies theatrical equipment to the Broadway market. Its […]

  • Justin Bieber Ariana Grande Kanye West

    From Ariana to Watt: Catching Up With Scooter Braun's 20 Clients as SB Projects Turns 10

    Film equipment supplier Matthews Studio Group is selling its Gotham-based Four Star Lighting Co. division to the company’s existing management and a group of private investors for more than $30 million in cash, strategic alliances and long-term marketing and Internet agreements. Four Star Lighting, founded in 1964, supplies theatrical equipment to the Broadway market. Its […]

  • Scooter Braun Team

    Meet the Six Key Execs Who Help Scooter Braun Care for Roster of Clients

    Film equipment supplier Matthews Studio Group is selling its Gotham-based Four Star Lighting Co. division to the company’s existing management and a group of private investors for more than $30 million in cash, strategic alliances and long-term marketing and Internet agreements. Four Star Lighting, founded in 1964, supplies theatrical equipment to the Broadway market. Its […]

  • New Media old media shakeup

    Murdoch Sale Talks Underscore Digital's Effect in Disrupting Hollywood

    Film equipment supplier Matthews Studio Group is selling its Gotham-based Four Star Lighting Co. division to the company’s existing management and a group of private investors for more than $30 million in cash, strategic alliances and long-term marketing and Internet agreements. Four Star Lighting, founded in 1964, supplies theatrical equipment to the Broadway market. Its […]

More From Our Brands

Access exclusive content