×
You will be redirected back to your article in seconds

Saban Capital Buys Panavision, Sim Video for $622 Million

Saban Capital Acquisition is buying camera equipment specialist Panavision and Sim Video International in a $622 million cash and stock deal.

The transaction, announced on Friday, is aimed at creating a comprehensive production and post-production entity. Saban Capital Acquisition Corp., headed by media mogul Haim Saban, intends to change its name to Panavision Holdings Inc. and is expected to continue to trade on the Nasdaq stock exchange.

Panavision president-CEO Kim Snyder will serve as chairman and CEO. Bill Roberts, chief financial officer of Panavision, will serve in that role for the combined company. The deal will close in the first quarter.

“Advancements in technology and the emergence of streaming have fundamentally changed how consumers watch and discover content,” Saban said. “This is driving significant growth in the market for production and post-production services. This secular trend creates a tremendous opportunity for Panavision to leverage its leading technology and pursue opportunistic acquisitions to grow in a manner that is agnostic to the content creator and distribution channel.”

Saban Capital Acquisition will pay Panavision shareholders $368 million in cash and 8.1 million shares of Saban stock with another 6 million shares vesting over time. Sim’s investors will receive $110 million in cash and 3.1 million shares of Saban stock.

“For nearly 65 years, Panavision has proudly served the entertainment industry, providing cutting-edge equipment and exemplary service to support the creative vision of our customers,” Snyder said. “This acquisition will leverage the best of Panavision’s and Sim’s resources by providing comprehensive products and services to best address the ever-adapting needs of content creators globally. These complementary companies subscribe to the same strategic vision: to support our customers as the category-defining provider of end-to-end production and post-production services.”

More Film

  • Nordic Film Market: New Pálmason, Hákonarson,

    Nordic Film Market Selects Latest Palmason, Hakonarson, Hafstrom, Ganslandt

    The 20th Nordic Film Market in Göteborg, unspooling Jan. 31-Feb 3, will showcase 16 works in progress including Hlynur Pálmason’s “A White, White Day”, Grímur Hákonarson’s “The County”, Mikael Håfström’s “The Perfect Patient” and Jesper Ganslandt’s “438 Days.” Iceland is well represented this year with top directors and festival darlings Pálmason (“Winter Brothers”), Hákonarson (“Rams”) [...]

  • 'All These Small Moments' Review

    Film Review: 'All These Small Moments'

    The magic of writer-director Melissa B. Miller Costanzo’s “All These Small Moments” can be found within the intimacy of the scenarios, the authenticity of her earnest characterizations, and the accessibility of the actors’ honest performances. In her deftly polished directorial debut, Costanzo dovetails the primary story about a teen’s coming of age with a secondary [...]

  • Bruce Tufeld Dead: Hollywood Agent and

    Hollywood Agent and Manager Bruce Tufeld Dies at 66

    Bruce Tufeld, a Hollywood agent and manager who once repped stars like Rob Lowe, Laura Dern, and Kelsey Grammer, died Tuesday in Los Angeles as a result of complications from liver cancer. He was 66. The son of respected television announcer Richard “Dick” Tufeld and Adrienne Tufeld, Bruce began his career as an assistant at ICM [...]

  • Bruce Dern

    Film News Roundup: Bruce Dern's 'The Lears' Bought by Vertical for February Release

    In today’s film news roundup, Bruce Dern’s “The Lears” and “Angels Are Made of Light” are acquired, Cold War drama “Stanley Cage” is launched and a documentary about Madonna’s early music career gets a release. ACQUISITIONS Vertical Entertainment has acquired North American rights from NeoClassics Films to “The Lears,” starring Bruce Dern in a modern-day [...]

  • Octavia Spencer Bryce Dallas Howard

    Octavia Spencer, Bryce Dallas Howard to Reunite for Comedy 'Fairy Tale Ending'

    Octavia Spencer and Bryce Dallas Howard will reunite for the ensemble comedy “Fairy Tale Ending.” Jim Hecht (“Ice Age: The Meltdown) and Tracy McMillan (“Marvel’s Runaways”) are writing the screenplay. Howard will also produce the Universal movie through her Nine Muses Entertainment alongside Eric Carlson and Susan Carlson. Seth MacFarlane and Erica Huggins will produce [...]

  • Robert Smith, Longtime Executive at DuArt

    Robert Smith, Longtime Executive at New York's DuArt Film Labs, Dies at 88

    Robert Smith, a longtime executive with New York’s DuArt Film Labs, died Jan. 11 in Montvale, N.J. He was 88. Smith spent some 62 years with DuArt, the film processing and post-production facility founded in 1922 in the penthouse of an automobile garage in Midtown. Smith rose to president of DuArt before retiring in 2015. [...]

  • Bird Box

    Los Angeles On-Location Feature Filming Surges 12.2% in 2018

    On-location feature filming in Greater Los Angeles expanded impressively in 2018, gaining 12.2% to 4,377 shooting days, according to FilmL.A. Production activity for feature films rose 15.5% to 1,078 shooting days during the fourth quarter, with 146 days coming from projects receiving California tax credits — including Netflix’s “Bird Box,” Quentin Tarantino’s “Once Upon a [...]

More From Our Brands

Access exclusive content