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Sony, Universal merge Aus video operations
By Patrick Frater
Wed, 07 September 2011, 12:01 PM (HKT)
Universal Pictures and Sony Pictures are to fold their home entertainment operations in Australia into a new joint venture company that will operate from February next year.
The move is designed to improve efficiency of service, but also reflects the realities of a shrinking DVD market and will lead to job cuts.
The new company will be run by Jim Batchelor, currently MD of Universal Pictures International Entertainment in Australia and New Zealand. Both companies will maintain their own acquisitions and marketing teams within the new structure.
The joint venture does not affect the two companies' home entertainment operations in New Zealand, nor film distribution in Australia and New Zealand.