Technicolor Creative Studios – the visual effects, animation and games division of Technicolor – was listed and commenced trading this morning as an independent company under TCHCS on Euronext Paris.
Trading opened at €1.9539 per share (about $0.96 USD). According to the company, 65% of their shares have been distributed to Technicolor shareholders.
The rest of the company – the connected supply chain and home services division (DVD management and distribution) – will remain listed on Euronext Paris under the new name Vantiva. According to Technicolor Creative Studios CEO Christian Roberton, that company retained a 35% stake in Technicolor Creative Studios.
Paris-based Technicolor Creative Studios includes VFX studios MPC and The Mill, Mikros Animation and Technicolor Games. Current and upcoming work including VFX on Disney’s Little Mermaid and Mufasaas well as HBO Max’s Dragon’s House. In total, the company employs 11,700 people in 11 countries.
Upcoming plans for Technicolor include the opening of a Los Angeles campus later this year in Culver City, which will house all of the studio brands under one roof and include a new virtual production stage.
“My ambition is to build the most successful visual arts company in the world,” says Roberton, noting that the independent firm will provide “a clearer proposition to investors” by focuses on customers in the entertainment and film industries.
In 2021, France-based Technicolor sold its post-production business for $36.5 million to Streamland Media, the parent company of the Picture Shop. That was followed by a restructuring in 2020, after filing for Chapter 15 bankruptcy.