The film studio planning a massive studio and development project in Effingham County has entered into a partnership with a major production equipment supplier.
Medient Studios announced Tuesday it has entered into a non-binding memorandum of understanding with Prime Focus Limited for the provision of equipment, technology and skill transfer. Prime Focus provides post-production and visual effects services and is a supplier of production equipment.
Prime Focus’ stake in the deal is worth more than $40 million, according to Medient chairman and CEO Manu Kumaran.
“We are excited to be part of Medient’s inspirational vision to reengineer the movie business,” said Prime Focus founder and CEO Namit Malhotra.
Said Kumaran: “This is the next level of firming up a very special relationship that has spanned the lifetime of Medient. Prime Focus has been a great partner of Medient and we are happy and proud that the relationship is progressing further.”
Medient and the Effingham Industrial Development Authority entered into a memorandum of understanding in March, paving the way for the studio to build a movie, DVD and video game production facility at the IDA’s Interstate 16 property. The plan includes hotels, shopping and entertainment and recreation facilities to be built, separate from the studio.
“I’m glad to see they put a deal together,” said Effingham Industrial Development Authority CEO John Henry. “Prime Focus is a world-class enterprise. This is as big as it gets in that industry. This is another thing we can check off that list.”
Under the terms of the joint venture, Prime Focus will provide production and post-production equipment, work flow technologies and skill transfer for Medient’s megastudio project.
Production and post-production equipment and services will include:
Cameras, lighting gear and other production equipment
Cutting-edge full-service post-production
Offline and online editing
Color correction and grading systems
Flame and smoke suites and other post production equipment and software
State of the art preview theatres with 3D
Post-production sound including mixing theatres
Complete film and video transfer services.
Visual effects and animation equipment and services will include:
Conceptual design, look development, on-set supervision, dynamics, on-location HDRI capture.
3D animation/CGI, cosmetic enhancement, matte painting, compositing and finishing.