Empire Investment Holdings – Acquires CSS Studios from Discovery Communications – DISCA
Empire Investment Holdings, a private investment firm focused on the acquisition and strategic management of non-core business units from public and private corporations, announced today that it has acquired CSS Studios, LLC , from Discovery Communications, Inc. (NASDAQ: DISCA). CSS is a holding company that owns seven distinct businesses, which together comprise the largest independent postproduction sound company in North America
The family of businesses provide creative postproduction sound services to major motion picture studios, independent producers, broadcast networks, cable channels, advertising agencies and interactive producers. The businesses operate out of nine facilities across Los Angeles and New York City equipped with best in class technology, heightened security and staffed by the industry’s top talent.
“We look forward to partnering with the team at Empire, as we focus on continuing to build on the body of award winning work created by the best talent in the industry,” said Robert C. Rosenthal, president at CSS Studios.
“Our team is energized to begin working with the management team and the creative talent within each business,” said David F. Alfonso, Empire’s chairman and chief executive officer. “We will build upon the successes that the team of creative editorial and mixing talent has created over the years, while promoting an environment that will continue to set the standard and produce award winning results.”
Empire engaged Ropes & Gray LLP, Lockton, RJC Group and Mr. J. Patrick (Rick) Michaels, Jr. from CEA Associates as its advisors for the transaction.
Peter J. Solomon Company acted as financial advisor and Proskauer Rose LLP acted as legal advisor to Discovery Communications.
About Empire Investment Holdings
Empire Investment Holdings (“Empire”) is a is a private investment firm focused on the acquisition and strategic management of non-core business units from public and private companies. Empire has acquired business units from Fortune 500 companies such as; IKON Office Solutions, Teleflex, Leggett & Platt, Ahlstrom and Discovery Communications. Empire’s portfolio is comprised of operating companies that serve thousands of customers worldwide with a global footprint and over 1,000 associates.
About Discovery Communications – DISCA
Discovery Communications (DISCA) is the world’s #1 nonfiction media company reaching more than 1.8 billion cumulative subscribers in 209 countries and territories. DISCA is dedicated to satisfying curiosity through 149 worldwide television networks, led by Discovery Channel, TLC, Animal Planet, Science and Investigation Discovery, as well as U.S. joint venture networks OWN: Oprah Winfrey Network, The Hub and 3net, the first 24-hour 3D network. DISCA also is a leading provider of educational products and services to schools and owns and operates a diversified portfolio of digital media services, including Revision3.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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