Prime Focus rises on plan to sell its UK Broadcast Post business

25 Mar 2015 Evaluate

Prime Focus is currently trading at Rs. 41.50, up by 0.10 points or 0.24% from its previous closing of Rs. 41.40 on the BSE.

The scrip opened at Rs. 41.95 and has touched a high and low of Rs. 43.45 and Rs. 41.10 respectively. So far 34317 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 59.40 on 13-Jan-2015 and a 52 week low of Rs. 25.40 on 13-May-2014.

Last one week high and low of the scrip stood at Rs. 43.45 and Rs. 35.85 respectively. The current market cap of the company is Rs. 768.56 crore.

The promoters holding in the company stood at 41.58% while Institutions and Non-Institutions held 4.20% and 54.22% respectively.

Prime Focus, the world’s largest integrated media services company, has decided to sale its UK Broadcast Post Production business to new company blue 2.0. Under the terms of the agreement, which both parties are expecting to be finalized in the two weeks, blue 2.0 will take over the Prime Focus UK Broadcast facility at 58 Old Compton Street and the provision of its long-form, drama, short-form, entertainment and DI services. The new company will employ the majority of the current Prime Focus staff at Old Compton Street, and the phased transition of the business to the new owners will begin immediately.

Prime Focus is retaining its Content Services offering (which provides services to long-standing clients such as the BFI and the Imperial War Museum), and a number of large-scale contracts with clients such as Red Bee Media, a major car manufacturer and a global consumer product brand. These contracts will continue to be serviced by Prime Focus staff from the company’s facility at 2 Bourchier Street.

Prime Focus is a global visual entertainment services group that provides creative and technical services to the film, broadcast, and advertising market. The group offers a genuine end-to-end solution from pre-production to final delivery including visual effects, 2D to 3D conversion, video and audio post production, equipment hire, multi-platform content operations solutions and digital distribution.

Prime Focus Share Price

133.90 0.60 (0.45%)
23-Dec-2024 16:59 View Price Chart
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