Prime Focus to offload UK post division

On Friday, senior Prime Focus staff were told that the acquisition of the creative services division of the UK business was in the final throes of completion. The deal could be finalised by the end of the week.

The contractual services aspect of the business, which looks after clients such as Red Bee Media, is expected to remain part of Prime Focus.  

A spokeswoman for Prime Focus declined to confirm the name of the prospective buyer but described them as “someone who has worked closely with [Prime Focus] in the past.”

The impact on UK post production staff is not yet known although Broadcast understands that some positions are at risk.

India-headquartered Prime Focus has been actively searching for a buyer for its UK post business for the past few months.

In a presentation to investors released earlier this month Prime Focus set out its plans for the coming year, including the divestiture of its “UK-based non-core post production business” to “remove the drag on consolidated results”.

Prime Focus Limited employs some 5,500 people across three divisions: Prime Focus World, which supplies 2D to 3D conversion, visual effects and animation services; Prime Focus Technologies which offers cloud-based asset management platforms; Prime Focus Group which provides post-production for broadcast, commercials and films and includes the London post operation.

Over the next few years it will focus on Prime Focus Technology’s cloud-based products and the bundled offering of VFX and 3D conversion services following the June merger between London-based VFX firm Double Negative with Prime Focus World’s creative services subsidiary.