PostWorks Acquires Tapehouse

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New York postproduction company PostWorks announced today that it has acquired the assets of the Tapehouse Companies -- which include Tapehouse Editorial, Tapehouse Digital Film, Tapehouse Broadband, Black Logic and The ANX -- and SMA Realtime. Both companies have been under the management of PostWorks since declaring Chapter 11 bankruptcy. Additionally, PostWorks has acquired a 50 percent stake in audio postproduction facility Caterini Studios.

According to PostWorks CEO Billy Baldwin, all the operations of both PostWorks and Tapehouse -- except for the ANX -- are currently being relocated to a 50,000 square foot facility at 100 Sixth Avenue, the current location of SMA Realtime.

Baldwin says the new facility -- which will likely be known as PostWorks/Tapehouse -- will aim to satisfy the demand for postproduction services for emerging high-definition formats. And while PostWorks is known primarily for its longform, feature film and television work, Baldwin says the company's expertise is relevant for the commercials production business. "More and more commercial directors and agencies and clients are looking for solutions for high-definition. Believe it or not there's very few houses in town that can accommodate it, and Tapehouse was one of them."

Baldwin says PostWorks had been looking at building a multi-format editorial and finishing facility from scratch, but that the acquisitions made more sense. "We were going to try to build this thing from the ground up," he says. "But rather than doing that, we saw the opportunity to get, not just the assets, but the personnel resources all under one roof. It's really more of a merger than an acquisition in that sense."

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