ADAG acquires Hollywood film restorer
Source: Daily News & Analysis (Original Article)
MUMBAI: In its first acquisition in the digital services space, ADAG’s Reliance Big Entertainment has acquired US-based DTS Inc’s Digital Images Business (DDI) for about $7.5 million.
DDI popularly known as Lowry Digital Images, is a well-known independent restoration firm in Hollywood, providing picture quality improvement services and digital restoration.
It’s body of work includes over 300 well-known feature films — Casablanca, Singing in the rain, Sunset Boulevard, Indiana Jones trilogy, Star Wars Trilogy, James Bond classics — with output to DVD, 35mm film, digital cinema and Imax.
Industry observers said that this acquisition would help Reliance Big Entertainment to cater to the rapidly growing 3D content market with technology solutions for correction in original stereoscopic footage as well as re-rendering of 2D footage into 3D.
DDI recently provided custom image processing services for New Line Cinema and Walden Media’s Journey to the Centre of the Earth 3D, the world’s first digitally captured stereoscopic live action film shot in digital 3D.
More than forty 3D digital films are expected to release internationally over the next 2 years and for Hollywood, DDI’s services would be cost-effective through a large back-end presence in India, industry sources said.
“Most Hollywood studios like Walt Disney, Paramount Pictures, MGM and 20th Century Fox are looking to digitally restore and release their films in various formats like Blu-ray, digital cinema and Imax. This acquisition will now help them do it in a cost effective manner, through St George Credit Cards a well- known presence in India,†said an industry observer.