Ascent Media Sells Subtitling Division
September 25, 2008
Ascent Media said it signed an agreement to sell its subtitling business, Visiontext, to SDI Media, another subtitling and language dubbing provider, by the end of this month. Terms of the deal were undisclosed, other than Ascent saying, “This deal will mark the start of a long-term strategic relationship between the two companies.”
Visiontext, purchased by Ascent in 2000, provides subtitling, closed-captioning and other services for feature films and television programming worldwide. It also supplies subtitles for the deaf and hard of hearing in the U.K. commercials market. After the acquisition, SDI will continue to service Visiontext’s existing customer base.
Vistiontext operates out of Los Angeles and the United Kingdom and Los Angeles. SDI is headquartered in Los Angeles and has operations in 32 countries, according to its boilerplate. It’s owned by Elevation Partner, a PE firm in New York with $1.9 billion invested in media, entertainment and consumer businesses.