25 Sep 2017 07:00
Press Release
FFI HOLDINGS PLC SUBSIDIARY SIGNS BINDING LOI TO ACQUIRE LEADING EDITING AND POST PRODUCTION COMPANY
FFI Holdings PLC ("FFI") the world leader in the provision of completion contracts to the entertainment industry for films, television, mini-series and streaming product, announces today that it has signed a binding LOI to acquire a full service digital post production and editorial facility servicing numerous theatrical and television productions. The acquisition will greatly enhance FFI's growing ancillary services business.
The company has a significant presence in North America and is at the forefront of post-production services and technology with strong relationships in television and independent projects.
The managers of the company will continue to oversee the operations of the company going forward. The Company anticipates closing the transaction during its fiscal third quarter 2018 (calendar year end 2017).
Steven Ransohoff, CEO of FFI commented, "Once completed, this acquisition will allow us to expand our ancillary services and will offer great synergies with our Pivotal Post acquisition earlier this year. We look forward to announcing additional deals in the near future."
About FFI Holdings PLC
FFI Holdings PLC (AIM: FFI) is the holding company of Film Finances Inc. (FFI), the world's leading provider of completion contracts to the entertainment industry, which offer assurance to the financiers of film, TV, mini-series and online media content that productions will be completed on time and on budget. These contracts serve to offload risks to production budgets and timelines for financiers, as well as for FFI through long-standing insurance relationships.
Since its founding in the 1950s, FFI has issued contracts on approximately 1,700 productions with gross budgets in excess of US$17 billion. These include many of the film industry's best known-titles, ranging from the first Bond movie (Dr. No, 1962) to The Hunger Games (2012) and Oscar winning films such as 12 Years a Slave (2013) and La-La Land (2016).
Over successive decades FFI has grown globally to become a trusted, iconic brand at the centre of the film industry. Headquartered in Los Angeles, USA, it has 11 offices globally, including in London, Stockholm, Toronto, New York, Cape Town, Cologne and Shanghai.
ENQUIRIES:
Hawthorn Advisors (Public Relations)
Andrew Orchard
+44 (0) 20 3745 4960
Victoria Ainsworth
+44 (0) 20 3745 3815
FFI Holdings PLC
David Sasso, Head of Investor Relations
+1 310 275 7323 x292
Liberum Capital Limited (Nomad & Broker)
Steve Pearce
Joshua Hughes
Tel: +44 (0) 20 3100 2000