Cinram
 | |
| Company type | Private |
|---|---|
| Industry | Optical media |
| Fate | Acquired |
| Headquarters | , |
Key people | Steven Brown (CEO) & John Bell (CFO) |
| Owner | Technicolor SA |
Cinram International was a Toronto, Canada-based manufacturer of pre-recorded Blu-ray Discs, DVDs, CD-Audio, CD-ROMs, VHS tapes and audio cassettes.[1] It is an affiliate of the Arizona-based Najafi Companies.[1]
History
Cinram was established in 1969 in a Montreal basement[1] by Isidore Philosophe and Samuel Sokoloff.[2] The company started manufacturing pre-recorded eight-track tapes and cassettes in 1969 in the basement of a commercial building in Montreal. More than three decades later, in 2003, the company completed a US$1.1 billion purchase of the music- and movie-manufacturing assets (WEA Manufacturing) of New York media giant Time Warner. Also that year, it bought the United States manufacturing operations of EMI and, later, Universal Media & Logistics France from Universal Music Group.
Cinram opened its first CD plant in 1987, when records and cassettes were still dominant. In the 1990s, the company started investing in manufacturing operations in Europe, and in 1997, when video-store racks were still filled with VHS tapes, Cinram began producing DVDs for movie studios and software CDs.
Bankruptcy
The company's fortunes began to decline with the rise of online streaming services.[1] In 2010, Cinram lost its major contract for distributing Warner Bros. movies, and its stock began to fall.[3] In 2012, the company sought bankruptcy protection from its creditors in the United States.[1] It was bought by private investment firm Najafi Companies.[1] In 2014, the company ended its manufacturing operations in Toronto.[1] That year, it bought JVC America from JVC Kenwood.[4] In 2015, it shut its Tuscaloosa, Alabama manufacturing plant.[4] On November 3, 2015, Paris-based Technicolor SA announced the acquisition of Cinram the same month.
References
- ^ a b c d e f g Gallant, Jacques (2014-07-25). "DVD and CD business faces challenges as physical media market declines". The Toronto Star. ISSN 0319-0781. Retrieved 2015-12-01.
- ^ http://investors.cinram.com/FAQ.aspx#a Archived April 3, 2009, at the Wayback Machine
- ^ "DVD maker Cinram strikes deal for private buyout". The Globe and Mail. Retrieved 2015-12-01.
- ^ a b "100 workers to lose jobs as Cinram shuts plant in Tuscaloosa County". TuscaloosaNews.com. Retrieved 2015-12-01.
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