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Unedited press release follows:
Technicolor completes the sale of its stake in ContentGuard to Pendrell Technologies LLC
PARIS–(Nov 2, 2011) – Technicolor (Euronext Paris: TCH) today announces that it has completed the sale of its 25.7% stake in ContentGuard to Pendrell Technologies LLC, a wholly owned subsidiary of Pendrell Corporation (NASDAQ: PCO).
The terms of the deal are presented in the press release of September 29, 2011. In accordance with Technicolor’s reinstated debt agreements, the net disposal proceeds of approximately $24.6 million will be applied to the prepayment of the Group’s reinstated debt.
Technicolor is home to industry-leading creative and technology professionals committed to the creation, management and delivery of entertainment content to consumers around the world. Propelled by a culture of innovation and underpinned by a dedicated research organization, the company’s thriving licensing business possesses an extensive intellectual property portfolio focused on imaging and sound technologies. Serving motion picture, television, and other media clients, the company is a leading provider of high-end visual effects, animation, and postproduction services. In support of network service providers and broadcasters globally, Technicolor ranks among the worlds’ leading suppliers of digital content delivery services and home access devices, including set-top boxes and gateways. The company also remains a large physical media service provider, being one of the world’s largest film processors and independent manufacturers and distributors of DVDs and Blu-ray™ discs. Euronext Paris: TCH www.technicolor.com