Technicolor - Creative Studios spin-off plan
Technicolor’s FY21 results were in line with guidance, with strong demand for both Technicolor Creative Studios (TCS) and Connected Home, despite fulfilment of demand being constrained by the effects of the pandemic. The key development is management’s plan to spin off 65% of TCS as a separately listed entity, with an accompanying refinancing. This should result in two coherent, quoted businesses, each with good growth prospects, a clear investment narrative and on a stable financial footing. Existing shareholders are backing the facilitating €300m loan note placing and, if all goes to plan, the new shares will be listed during Q322.Technicolor SA is engaged in the development of technologies, and the supply of digital production (visual effects and animation), video and sound postproduction and distribution solutions and services for a range of content creators, pay-television operators, and over-the-top (OTT) and network service providers. The Company operates in the media and entertainment industry. The Company's activities are organized in three operating segments: Connected Home, Entertainment Services and Technology. The Connected Home segment includes design and supply of solutions enabling the delivery of digital video entertainment, data, as well as voice and Smart Home services to pay-television operators and network service providers. The Entertainment Services segment includes Production Services and DVD Services divisions. The Technology segment includes Patent Licensing, and Trademark and Technology Licensing divisions.
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