Liberty Livewire to Be Renamed Ascent Media Group

Nov 18, 2002 12:00 PM, Editors

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Liberty Livewire (Santa Monica) will change its corporate name to Ascent Media Group (www.ascentmedia.com) 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 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 due to 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 a global aggregation of media services companies that provide 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. As a result, clients can take advantage of Ascent Media Group's integrated end-to-end service capabilities; in essence, creating a one-stop shop for all of their needs, from the creation of the asset through its distribution.

Acording to Bill Fitzgerald, Ascent Media Group's chairman and CEO, "Ascent Media Group is 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. These include 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 Name, Bink Digital, A.F. Associates Inc. and Video Rentals Inc. According to Ascent Media, the rationale for this decision is because many clients who enlist post-production services 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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