94.7 F
San Fernando
Tuesday, Mar 5, 2024

Preview: Panavision Purchase Puts Focus on Production

The Valley could have a new high-profile public company with Saban Capital Acquisition Corp.’s purchase of Panavision Inc. in Woodland Hills and Sim Video International Inc. in Toronto. Under the acquisition agreement, Los Angeles-based Saban Capital will pay $622 million for both Panavision and Sim. Saban Capital is a special purpose acquisition company started by billionaire Haim Saban. Saban Capital plans to change its name to Panavision Holdings Inc. after the transaction closes, which is expected early next year. Currently, Saban Capital trades under the ticker SCAC on the Nasdaq; after the acquisition it will continue to trade on the Nasdaq. Panavision Chief Executive Kim Snyder and Chief Financial Officer Bill Roberts will serve in those same positions for the combined company. Read the full story in the October 1 issue of the San Fernando Valley Business Journal.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

Featured Articles

Related Articles