Screenvision Gets New Owners
Gail Chiasson, North American Editor
Shamrock Capital Growth Fund II, a leading private equity fund focused solely on media, entertainment and communications investing, is becoming the majority stakeholder in New York-based Screenvision by purchasing from UK-based ITV Pic its full 50% stake in Screenvision.
Screenvision’s other owner, Technicolor, will retain a minority shareholding and will continue to be Screenvision’s provider of film and digital services. The film processing and distribution agreement will extend through end of life.
Additionally, as part of the transaction, Screenvision has entered into an amended exhibitor agreement with Carmike Cinemas Inc., Columbus, Georgia, one of the largest motion picture exhibitors in the U.S. Carmike will also become a minority shareholder in Screenvision as part of its exclusive agreement with Screenvision.
“We have known and have followed the Screenvision story for many years and have always been impressed with its expansive network of over 150 theatrical partners and inventive advertising solutions it offers to its over 4,000 advertising partners,” says Stephen Royer, Shamrock’s managing director. “Screenvision is a compelling advertising buy, given its captive audience reach, over 15,000 screens throughout the U.S., and its expansive sales offerings. We are thrilled to be partnering with the current management of Screenvision to build from here.”
Historically known as the Disney-family investment vehicle for over 30 years, Shamrock is a Los Angeles-based private equity firm investing on behalf of a diversified group of institutional limited partners.
“We have been an owner of Screenvision for over 10 years and have built this company into what it is today – a leading advertising provider to the cinema industry,” says Frederic Rose, Technicolor’s CEO. “From a commercial perspective, it made sense for us to keep a minority shareholding and to continue our partnership by providing film and digital services to Screenvision.”
“We have always maintained our view that Screenvision is a strong business with great potential, but as we publicly stated, Screenvision was a non-core holdings of ITV and therefore, we are certain it is in great hands with its new owners,” says Adam Crozier, ITV’s group chief executive.
“We have been a partner of Screenvision for over 20 years and we plan to be a partner for many more,” says David Passman, Carmike’s CEO.. “Screenvision has proven to us that it is the preferred solution to partner with because of its independent approach to the cinema industry as well as the creative advertising solutions offered by its excellent sales-force.”
“Carmike is a technological innovator in the exhibition community and our partnership has only become stronger with this agreement,” said Darryl Schaffer, executive vice-president – exhibitor relations at Screenvision. “This partnership validates Screenvision’s ability to support its exhibitor partners with leading-edge cinema advertising solutions.”
The transaction is pending regulatory approval.
Screenvision is a national leader in cinema advertising, offering on-screen advertising, in-lobby promotions and integrated marketing programs to national, regional and local advertisers and providing comprehensive cinema advertising representation services for its theatrical exhibitor partners. The Screenvision cinema advertising network is comprised of over 15,000 screens in 2,500 theatre locations across all 50 states and 93% of DMAs nationwide; delivering through more than 150 theatrical circuits, including 10 of the top 15 exhibitor companies.
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