Technicolor is winding down operations

is a reporter focusing on film, TV, and pop culture. Before The Verge, he wrote about comic books, labor, race, and more at io9 and Gizmodo for almost five years. Technicolor Group, the French VFX giant that owns some of Hollywood’s most in-demand post-production houses, appears to be on the brink of collapse — putting thousands of jobs at risk. Variety reports that Technicolor has begun winding down operations after failing to secure a new round of investment necessary to keep the entire international outfit running. In a message sent to employees on Monday, Technicolor CEO Caroline Parot claimed that COVID-19 era setbacks and the 2023 writers strike were two sources of the “severe cash flow pressures” the company has been struggling to deal with. Parot also said Technicolor — which operates in the U.S., Canada, Europe, India, and Australia — “must face reality,” and explained that the company has petitioned the Paris Commercial Court to initiate receivership proceedings. “In each ... Read full article.