“The Mid-West of Ireland has massive potential as a major Film/TV production location. In a few shorts years, the region has made great strides in developing the sector, with a rapidly growing crew-base, the biggest film studio in Ireland, new companies launched and numerous features and TV-series choosing to film in Limerick, Tipperary and Clare. Our ambition for the sector is huge, and it’s great to be working with the team at Olsberg SPI and local stakeholders to carry out an in-depth analysis of the Mid-West’s current film production capacity. The resulting report will look at our strengths, weaknesses, constraints and capacity gaps in key areas of production and skills, as well as the opportunities for future growth.
Thank you to our funders and champions for their continued support and vision to develop the sector here, and especially to our report funders; Limerick and Clare Education and Training Board, Midwest Regional Skills Forum, and the Local Enterprise Offices in Clare, Tipperary and in Limerick. And to all those who have taken part in the survey, consultations and roundtable discussions to date. We are looking forward to 2024, the launch of the new report and to many more productions and successes in the region.”
Paul C. Ryan, Film Commissioner/Regional Film Manager, Mid-West Region, Ireland.
Photo from the recent roundtable discussions at the Engine Collaboration Centre in Limerick featuring a panel of Further and Higher Education representatives and the Olsberg SPI and Film in Limerick teams.
This new episode covers the new strategic plan for Apprenticeships for the Mid-West, The EUNIC Film Festival as well as other news from the Moylish Campus of TUS.
This programme is produced by Film CEL, (Film Craftsmanship, Excellence and Learning) and is shot on location at the Moylish Campus.
The Word On The Street, TUS’ in-house news and events programme, is in production again this year. Now in its 7th season, the crew of Film CEL will be covering stories across multiple campuses in TUS. Based on the Moylish Campus, the crew under the direction of Simon McGuire will gain knowledge of electronic news gathering (ENG) while also coming to grips with the equipment and story telling.
Here is the latest promo for the series and the first episode is due to be released in the coming weeks.
TUS, Limerick School of Art and Design (LSAD) to host EUNIC Short Shorts Film Festival for Europe – Thursday 19th October at 6 pm – TUS – Millennium Theatre
A decision was reached between Film in Limerick and AFCI in consultation with Fis Éireann/ Screen Ireland to postpone this year’s Cineposium event.
Created to provide education and celebrate the greater production industry, Cineposium also held great value to the host city in spotlighting its region and local infrastructure. Due to the ongoing global uncertainty within the international industry right now due to the current WGA and SAG-AFTRA strikes, we feel it is best for everyone who participates in Cineposium to conduct the event at a later date.
Avid Technology Enters into Definitive Agreement to Be Acquired by an Affiliate of STG for $1.4 Billion
Stockholders to Receive $27.05 Per Share in Cash
Transaction Represents 32.1% Premium to Avid’s Unaffected Share Price on May 23, 2023
Avid to Become a Privately Held Company Upon Completion of the Transaction
BURLINGTON, Mass., Aug. 09, 2023(GLOBE NEWSWIRE) — Avid® (NASDAQ: AVID), a leading technology provider that powers the media and entertainment industry, today announced that it has entered into a definitive agreement to be acquired by an affiliate of STG in an all-cash transaction valuing Avid at approximately $1.4 billion, inclusive of Avid’s net debt. Under the terms of the agreement, Avid stockholders will receive $27.05 in cash for each share of Avid common stock. The cash purchase price represents a premium of 32.1% over the Company’s unaffected closing share price on May 23, 2023, the last full trading day prior to media speculation regarding a potential sale of the Company.
“Since our founding over 30 years ago, Avid has delivered technology that enables individuals and enterprises who create media for a living to make, manage and monetize today’s most celebrated video and audio content across the globe. We are pleased to announce this transaction with STG, who share our conviction and excitement in delivering innovative technology solutions to address our customers’ creative and business needs,” said Jeff Rosica, Avid’s Chief Executive Officer and President. “STG’s expertise in the technology sector and significant financial and strategic resources will help accelerate the achievement of our strategic vision, building on the momentum of our successful transformation achieved over the past several years. This transaction represents the start of an exciting new chapter for Avid, our customers, our partners and our team members and is a testament to the importance of Avid and our solutions in powering the media and entertainment industry.”
John P. Wallace, Chairman of the Avid Board of Directors, said, “This transaction is the result of a comprehensive review of strategic alternatives for Avid. Upon closing, this transaction will deliver immediate, significant and certain value to our stockholders. After carefully evaluating a variety of options, the Board determined that this transaction is in the best interests of Avid and its stockholders.”
William Chisholm, Managing Partner of STG added, “STG has admired Avid’s heritage as a category creator and pioneer in the media and entertainment software market for many years. We are excited to partner with Jeff and the management team to build on the Company’s history of delivering differentiated and innovative content creation and management software solutions. We look forward to leveraging our experience as software investors to accelerate Avid’s growth trajectory with a deep focus on technological innovation and by delivering enhanced value for Avid’s customers.”
About STG
STG is a private equity partner to market-leading companies in data, software, and analytics. The firm brings experience, flexibility, and resources to build strategic value and unlock the potential of innovative companies. Partnering to build customer-centric, market-winning portfolio companies, STG creates sustainable foundations for growth that bring value to existing and future stakeholders. The firm is dedicated to transforming and building outstanding technology companies in partnership with world-class management teams. STG’s expansive portfolio has consisted of more than 50 global companies. For more information, please visit www.STG.com.
Working again on editing the Big Screen images for this weekend’s All Ireland Hurling Final between Limerick and Kilkenny.
As a Ballybrown resident, want to say a special mention to Ballybrown’s own Colin Coughlan and Aidan O’Connor. All the best and let’s do the four in a row.
For more information on the big screen in Limerick, check the link below.
Simon McGuire 