In a further sign of recession-driven consolidation in post-production, high-end boutique post house Beast has agreed to be acquired by conglom Ascent Media.
Beast, which mainly offers editorial services, has facilities in New York; Santa Monica; Austin, Texas; and abroad.
Current management at Beast will remain in place. Co-founder Igor Kovalik and managing partner Valerie Petrusson will oversee Beast for Ascent.
Ascent has been acquiring talent and companies to expand its presence in commercial editorial.
“The commercial market will bounce back because this is the engine by which things are sold and marketed in this country,” said Ascent CEO Jose Royo. “We want to be well positioned for the upturn when it happens.”
The acquisition of Beast brings Ascent into Austin while bolstering the conglom’s presence in New York and Los Angeles. Ascent’s recent hiring of top talent from Mad River Post put it in Detroit as well. and it has also acquired assets in San Francisco.
For its part, Ascent is looking to Beast as a feeder for its operations.