Liquidators go in at Electric Image

Article Abstract:

Electric Image, a computer animation and special effects company in the UK, has stopped trading and eliminated 11 of its employees. The decision was attributed to narrowing profit margins due to reduced production budgets from film and television firms. An executive of the company, however, attributed the loss from the high cost of the establishment of the firm's DVD subsidiary Electric Switch, which with The Electric Group was reportedly unaffected by the closure together. The official also disclosed that the cancellation of two major projects, which was expected to be rolled out in October 1998, also contributed to the pressure.

Comment:

Has stopped trading and eliminated 11 of its employees

Labor force information, Organizational history, Teleproduction and Other Postproduction Services, Video Post Production Work, Video post production, Electric Image

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TLI sold to Kingston Communications

Article Abstract:

Teleport London International (TLI) has been sold to Kingston Communications by Services Sound & Vision Corporation (SSVC), an independent facilities group and registered charity, for about 10 million pounds sterling. Steve Maine, chief executive of Kingston Communications, said the purchase will allow the group to reinforce its expansion into the video satellite business. He said the TLI will remain to operate independently and will not be integrated with the Kingston Satellite Services subsidiary.

Comment:

Sells its Teleport London International to Kingston Communications for about 10 mil pounds sterling

Asset sales & divestitures, Acquisitions & mergers, Satellite Telecommunications, Satellite TV Communications, Satellite television, Kingston Communications (Hull) PLC, Teleport London International, Services Sound and Vision Corporation

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