Technicolor to spin-off Creative Studios division
Division includes Technicolor's visual effects business
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Division includes Technicolor's visual effects business
Molinare Production Services to be led by new head creative Darren Rae, whose appointment reunites him with some familiar faces
Change in rating comes after Technicolor announced in September that it had completed its debt restructuring.
Technicolor's Chapter 15 proceedings in the United States have also been closed
Ruling prohibits Technicolor's creditors from taking any action inconsistent with the accelerated financial safeguard plan in the United States
Approval marks a "new chapter" for the company said CEO Richard Moat
Plan now faces approval by shareholders. If not, Technicolor said it will be forced to initiate liquidation proceedings
In a statement sent to TVBEurope, Technicolor reiterated that Chapter 15 is not bankruptcy but a proceeding that accompanies the SFA process for companies...
Company says it is "confident" it will reach an agreement with lenders in the next couple of days
Originally unveiled a strategic plan for the next two years in February
Moody's warned could be hindered by "increasingly challenging macro environment"
Company says it is "well placed to benefit from the burgeoning growth of streaming platforms"
BusinessCompany expects its profitability to show recovery in second half of 2019