Daily News: September 4, 2014

Tiger Group, GA Global Sell Todd-Soundelux Assets

Tiger Group’s Remarketing Services Division and GA Global Partners were appointed by the bankruptcy court to sell all of the sound equipment from the Todd-Soundelux bankruptcy, including the contents of the company’s complete and ready-to-operate Burbank sound studio. The core Burbank offering includes large-scale re-recording and Automated Dialogue Replacement (ADR) stages, and post-production equipment.

Encompassing a total of 25,000 square feet of leased space on two floors, the Burbank studios are being offered for sale as complete turnkey operations, with bidders given the option of acquiring the facilities on both or individual floors and entering into a new leasing arrangement. Tiger Group is currently accepting immediate offers for the contents of the Burbank studios.

The company provided postproduction services for notable titles, including Black Sails, Game of Thrones, Mad Men, NCIS, and CSI. Its roots go back to the 1950s, when Todd-Soundelux was known as Todd-AO, originally promoting the then-revolutionary widescreen cinema format developed by Broadway producer Mike Todd. The company later shifted its focus to the sound business and went through multiple owners before being acquired by Florida-based Empire Investment Holdings. But a significant decline in revenues, primarily in the feature film segment, hurt the independent postproduction sound business in the Los Angeles area. Todd-Soundelux LLC filed for Chapter 11 bankruptcy on May 21, 2014 in the California Central District Bankruptcy Court (case number 214-bk-19980).

“This sale represents an opportunity to step into the void being left by the decommissioning of Todd-Soundelux’s Burbank studios and the dismantling of the company’s other mixing sound stages in Hollywood and Santa Monica,” said Jeff Tanenbaum, president of Tiger Remarketing Services. “Further, the availability of the Burbank studios by individual floors provides an excellent opportunity for smaller operators or larger companies looking for modest expansion.”

Assets up for bid on Burbank’s 10,000-square-foot first floor include two large-scale re-recording stages suitable for feature film or broadcast post production audio work; Avid Icon dual operator consoles with large-scale Pro Tools systems; HD video projection; a large-scale ADR stage, and a large room suitable for group ADR sessions.

The 15,000-square-foot second floor houses five medium-scale re-recording stages, suitable for feature film or broadcast post production audio work; Avid dual operator consoles with large-scale Pro Tools systems, and other equipment. All the stages are configured to enable projects to move freely between rooms, and full on-site technical support is available.

Parties interested in operating the Burbank studios or acquiring its contents should contact Tanenbaum at jtanenbaum [at] TigerGroup [dot] com or 805-497-4999 for more information or to schedule site visits. Any private sale of the assets in bulk is subject to the approval of the U.S. Bankruptcy Court, Central District of California, in the Todd-Soundelux Chapter 11 case.