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Ascent Media Sells Subtitler
SDI Media will take over Visiontext by the end of the month, marking strategic relationship’s commencement.
September 22, 2008
Ascent Media, a listed Californian entertainment and media firm, will sell to Elevation Partners’ SDI Media, a translation and subtitling firm, its Visiontext subsidiary, it was announced.
“This sale is a first step toward creating a strategic alliance with SDI Media,” said Jose Royo, chief executive of Ascent Media Group. “Over the long-term, we will build on this foundation to bring greater value to all our clients.”
Elevation Partners, a $1.9 billion private equity firm, makes investments in media, entertainment and consumer businesses.
“As a thriving brand, Visiontext will strengthen SDI Media’s position as market leader,” said Maggie Nuttall, managing director, Visiontext. “Our clients will also benefit tremendously from this move to SDI Media and their extended relationship with Ascent Media.”
Visiontext, which Ascent has owned since 2000, offers subtitling, closed-captioning and other services for deaf or hard of hearing clients from US and UK offices.
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