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Cinram moves deeper into digital platforms with 1K Studios acquisition

Cinram International has acquired Los Angeles-based digital media company 1K Studios. The move is part of a broad initiative to advance Toronto-based disc replicator and distribution Cinram, a provider of media delivery services around the world, further into digital platforms.

1K Studios has been a key service provider to many of the world’s top media and technology companies including Paramount Home Entertainment, Apple, HBO, and Warner Bros Home Entertainment. The company provides creative and technical services to these companies to help them release their content in different venues including digital downloads, mobile and tablet apps, advanced Blu-ray discs, stereoscopic 3D and social media.

“1K Studios’ services will be integrated with Cinram’s existing media production and logistics business, creating an end-to-end supply chain with significant competitive advantages for its customers,” says the company. “The new expertise is intended to will play an important role in Cinram’s effort to identify and evaluate additional opportunities to add to the company’s client offering.”

The deal will consolidate a network of client relationships that includes all of the major US and European movie and TV studios, record companies, and game distributors, as well as numerous publishers and technology companies.

“In the ever-evolving digital landscape, we must adapt our business model to meet our partners’ needs,” said Steve Brown, Cinram’s CEO. “No matter how the delivery methods change, consumers continue to demand exciting experiences.”

1K Studios management and team of specialised designers, programmers, information architects, animators and content producers will continue to operate from their existing Los Angeles studio.

In other developments, Cinram said it has presented to its current backers a plan to refinance and recapitalise its credit line through 2013 and cut $120 million from its current debt of $367 million.

Story filed 05.02.11

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