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Rank chops Deluxe

World Brief

After 60 years in the movie business, Rank is severing its last ties with the bigscreen by spinning off its Deluxe film processing and video duplication arm.

Rank, which long since pulled out of film production, distribution and exhibition, is expected to announce this week that it will turn Deluxe Films into a separate company with its own London Stock Exchange listing.

Rank has wanted to withdraw from Deluxe since September. But the stumbling block has been the change-of-control clauses that govern its contracts with the Hollywood studios. It has been holding talks with the studios to ensure that Deluxe retains their business after the separation.

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