In an effort to boost its post-production offerings in Europe, Todd-AO Corp. said last week that it has taken a 50% stake in post house 103 Estudio in Barcelona.
Todd-AO, which specializes in sound services for the major studios, said its goal is to create strategic European locations from where Todd-AO will service the post-production needs of clients.
“We have been looking to expand into Spain for some time now,” said Salah Hassanein, prexy and CEO of Todd-AO. “The requirements for foreign-language versioning are becoming increasingly varied and we wanted to ensure that the Todd-AO Corp. is in a position to handle all our clients’ requirements with speed and top quality control.”
As part of the deal, Todd-AO will fund 103 Estudio’s expansion efforts, including upgrades to its digital dubbing studios that are designed specifically for foreign-lingo dubbing of feature films and TV programs.
Both companies said two buildings already have been acquired near the two existing facilities already owned by 103 Estudio. The post house plans to extend into Madrid, Spain, and Lisbon, Portugal, as well.
Current management will stay on at 103 Estudio, with Todd-AO execs joining the company’s board.
“We are excited and delighted that we will be working closely with an organization like Todd-AO,” said Renata Merino, managing director of 103 Estudio.
The deal also will enable 103 Estudio to break out of Spain and offer its services to international clients through Todd-AO’s other holdings.
Todd-AO is a major provider of sound services, including music recording and sound editing, as well as f/x, graphics and editing services to major studios.
John Malone’s Liberty Media Group, a unit of AT&T, said in August that it will acquire a controlling stake of the company before the end of the year.