Liberty Livewire Renamed Ascent Media Group

Nov 18, 2002 12:00 PM, Editors


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Liberty Livewire (Santa Monica, Calif.) will change its corporate name to Ascent Media Group on Wednesday, November 20, 2002. As a result, effective that same day, the company's NASDAQ ticker symbol for its Class-A common stock will change from LWIRA to AMGIA.

Ascent Media Group provides a wealth of services to content owners in post-production, media-asset management and content distribution that is available through the company's three service segments: Ascent Media Creative Services (formerly Liberty Livewire Pictures), Ascent Media Network Services (formerly Liberty Livewire Networks) and Ascent Media-Management Services (formerly Liberty Livewire Media). Among the myriad services offered within the company are telecine, online and offline editing, visual effects, foreign-language dubbing, sound editorial, sound mixing, digital-asset management, encoding, uplink services, distribution to foreign broadcast, Internet delivery, system integration and video-on-demand. These services are offered on a global basis through over 100 facilities in five countries, provided by more than 3,700 associates.

The re-naming of Liberty Livewire to Ascent Media Group is based on a strategic effort that began two years ago with the establishment of Liberty Livewire in June 2000. Liberty Livewire was formed through a series of strategic acquisitions that resulted in the largest global aggregation of media services companies providing post-production, media-asset management and content-distribution services. The acquired businesses include Company 3, R!OT, Method, Rushes, Encore, Level 3 Post, Soundelux, Todd-AO, POP Sound, Digital Image, 4MC, Audio+Video International, Group W Network Services, Waterfront Communications, A.F. Associates and Asia Broadcast Center.

"Ascent Media Group is changing the face of the media services business through the aggregation and integration of services across the content creation, management and distribution segments, creating an end-to-end media services platform," said Bill Fitzgerald, Ascent Media Group's chairman and CEO. "Ascent Media Group is also investing extensively in the development of next-generation technology platforms and service applications such as video-on-demand, interactive television and store-and-forward technology. In doing so, the company is setting the stage for future development, while positioning itself to support new facets of content creation, management and distribution."

Although most of Liberty Livewire's companies will adopt the new Ascent Media Group identity, a select number of legacy brands will preserve their operating names, including POP Sound, R!OT Santa Monica, R!OT Manhattan, R!OT Atlanta, FilmCore Editorial (Santa Monica), FilmCore Editorial (San Francisco), FilmCore Distribution (Hollywood), FilmCore Distribution (San Francisco), Company 3, Company 3 New York, Method, Blink Digital, A.F. Associates Inc. and Video Rentals Inc. The rationale for this decision is because many clients who enlist post-production services seek out the highest level of creative talent to service their projects and often prefer the attributes afforded by a "boutique" brand.

The Ascent Media name will be adopted by the company's UK and Asia operations in the first quarter of 2003.

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