Discovery Sells CSS Studios to Empire Investment Holdings
Private Investment Firm Picks Up Todd-AO, Soundelux, Sound One, and More
UPDATE 09/26/12: Sound One in New York was shut down almost immediately after the purchase by Empire, but the company suggested it may be temporary. Here's the full statement from Sound One: Sound One, LLC has announced that in response to the current market conditions in New York, the company is investigating strategic alternatives for its New York operations. As a first step, the company implemented a short-term temporary lay-off program, while the management team considers a variety of strategic options. This development pertains solely to Sound One, LLC in New York and does not impact CSS Studios’ operations in Los Angeles.
Discovery Communications has sold the CSS Studios collection of audio post facilities to Empire Investment Holdings, a private investment firm headquartered in Miami, Florida.
The CSS Studios conglomerate includes Todd-AO, Soundelux, Sound One, Modern Music, POP Sound, Soundelux Design Music Group, and The Hollywood Edge, making it the largest independent audio post company in North America.
"The Empire team understands and respects the importance of these companies to the creative community," said Empire chair and CEO David F. Alfonso. "We intend to protect and ehance the company's unique value proposition and creative leadership as the preferred destination for some of the most important filmmakers of our time."
Empire didn't announce any immediate plans for consolidation within the CSS Studios organization, which operates in a total of nine facilities in Los Angeles and New York City.
The facilities are known for top-drawer sound work — sound editors and other artists from Soundelux most recently won an Emmy for Outstanding Sound Editing while a pair of re-recording mixers from Todd-AO won the Emmy for Outstanding Sound Mixing, both on the "Blackwater" episode of Game of Thrones.