Colorists Ian Vertovec and Corinne Bogdanowicz, along with general manager Megan Marquis, will lead a group of 15 employees in acquiring the assets of Post Production house Light Iron from current parent company Panavision. The group will be joined by brothers Michael and Peter Cioni, who recently co-founded the Post Tech startup Strada and who were also among the original founders of Light Iron back in 2009. The brothers will serve as advisors, holding a minority stake in the reconfigured firm.
Panavision acquired Light Iron in 2014 with the idea to help bridge the gap between production and post by offering services including dailies, color grading and mastering. Light Iron was headquartered in Hollywood and they grew to have additional facilities in New York, Atlanta and Toronto. Although they enjoyed a good run with Panavision and had innumerable prestige credits, an industry-wide downturn recently forced the company to significantly downsize, laying off a large number of employees and closing down the offices. The new acquisition will notably include the Hollywood location on De Longpre Avenue, but they plan to move away from a facilities-centric model of postproduction and specialize, where appropriate, on remote workflows where the expertise of Strada will come into play.
For further details see Carolyn Giardina’s full Creative Orbit substack report here: https://creativetechorbit.substack.com/p/light-iron-relaunches-as-employee
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