(SECAUCUS, NJ -- December 12, 2006) Panasonic, a leading supplier of broadcast and professional video products and systems, has announced an agreement with Panavision and Deluxe Entertainment Services Group to supply the companies with more than $2 million in high definition products over the next year.
The pact means that Panasonic's leading high definition products – including cameras, recorders, production monitors and plasmas - will be widely available at Panavision's and Deluxe Entertainment's operations worldwide.
"The substantial investment by Panavision and Deluxe Entertainment in Panasonic's production-quality HD cameras, recorders, and monitors for their prominent customers is a testament to the extraordinary quality and flexibility that we can bring to the production and post-production of motion pictures, television series and television commercials," said John Baisley, President of Panasonic Broadcast. "Panavision has a well-established, worldwide reputation for offering high-precision camera systems and associated production products, and we are delighted they are moving to Panasonic as a key digital camera systems supplier for both tape-based and tapeless solid-state memory-based P2 products."
"In the past few years, we have seen Panasonic products reach into 'film-style' television production, one of our core businesses," said Bob Beitcher, President and CEO of Panavision. "The price/performance ratio of these products – including cameras, VTRs and displays – is impressive. As HD origination expands around the world, it makes logical business and technology sense for Panavision to offer a range of Panasonic equipment to our customers."
"The digital image processing we perform at Deluxe requires the highest quality tools available," said Cyril Drabinksy, CEO, Deluxe Entertainment Services. "We believe that Panasonic's range of well-engineered HD video equipment fulfills the demanding requirements of both ourselves and our customers."
In the multi-million dollar deal, Panasonic will provide both companies with a wide range of HD equipment including leading DVCPRO HD camcorders (AJ-HDX900 2/3" shoulder-mount, AJ-HDC27H VariCam® HD Cinema, and AG-HVX200 P2 hand-held models), HD VTRs (AJ-HD3700 D-5 HD and AJ-HD1400 compact DVCPRO HD models), its full line-up of LCD HD monitors (BT-LH2600W 26", BT-LH1700W 17"and BT-LH900A 8.4" models) and its new 1080p plasma displays (65" TH-65PF9UK model).
"Our customers are pleased with Panasonic cameras," said Beitcher. "There is a 'film-style' sensibility in these cameras - from the ability to easily accessorize to adjustable gamma curves."
Panavision and Deluxe Entertainment, both owned by MacAndrews and Forbes Holdings, Inc., are among the most renowned service providers to the film and television industry. A major resource for major motion picture film companies for the last 30 years, Panavision camera systems have been widely used in the world's top box office hits, including films such as the Pirates of the Caribbean series, the Spiderman series, Flags of Our Fathers, and Batman Begins. The company is also a leading supplier of camera equipment to popular prime-time television series and cable television productions, such as Lost, CSI, Desperate Housewives, The Office and The Sopranos. Collectively, Panavision and Deluxe Entertainment have 70 facilities around the world.
About Panavision ( http://www.panavision.com
Founded in 1954, Panavision Inc. is a leading designer and manufacturer of high-precision camera systems, including both film and digital cameras, lenses and accessories for the motion picture and television industries. Panavision systems are rented through its domestic and internationally-owned and operated facilities and agent network. Panavision also supplies lighting, grip and crane equipment for use by motion picture and television productions.
About Deluxe Entertainment
Deluxe Entertainment Services Group Inc. is a worldwide entertainment services provider and includes the world's largest processor of film for the motion picture industry. The company principally operates in three business segments: Film Labs, Creative Services and Film Distribution. The Film Labs segment is the largest processor of 35mm film for the motion picture industry, operating under long-term contracts with a number of Hollywood studios. Creative Services assists in motion picture post-production work, including digital intermediates and compression, encoding and authoring services for the DVD industry. This segment also distributes motion picture-related marketing materials and provides digital distribution and asset management products and services. Film Distribution includes the largest distributor of release and trailer prints to film studios, with a nationwide and international distribution network that assures best-in-industry security and reliability.
About Panasonic Broadcast
Panasonic Broadcast & Television Systems Co. is a leading supplier of broadcast and professional video products and systems. Panasonic Broadcast is a unit company of Panasonic Corporation of North America. The company is the North American headquarters of Matsushita Electric Industrial Co., Ltd. (NYSE: MC) of Japan, and the hub of its U.S. marketing, sales, service and R&D operations. For more information on Panasonic Broadcast products, access the company's web site at http://www.panasonic.com/broadcast