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Sound One??
Old 25th September 2012
  #1
Gear Maniac
 
ruy's Avatar
 
🎧 10 years
Sound One??

Old 25th September 2012
  #2
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Henchman's Avatar
 
🎧 15 years
Really?
Old 25th September 2012
  #3
Gear Maniac
 
ruy's Avatar
 
🎧 10 years
Nuts!
Old 25th September 2012
  #4
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Smallbudgetguru's Avatar
 
🎧 10 years
?
Old 25th September 2012 | Show parent
  #5
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mgoorevich's Avatar
What do you smoke?
Old 25th September 2012
  #6
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RecRoom's Avatar
 
🎧 10 years
Word on the street is that NYC's sound one will be closing it's doors. I haven't heard any confirmations on this but apparently CSS Studios, which owns sound one was recently sold to an investment firm.

Details:

Discovery Sells CSS Studios to Empire Investment Holdings | Studio Daily
Old 25th September 2012
  #7
Gear Maniac
 
ruy's Avatar
 
🎧 10 years
Empire shut it down today. Pretty sad.
Old 25th September 2012
  #8
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Lipflap's Avatar
 
🎧 10 years
Very saddening.
Old 25th September 2012
  #9
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🎧 10 years
They've got to be a pretty bogus investment company if they're stupid enough to think they will make money for their shareholders by buying post production facilities. Watch for another sale in the not too distant future when the realization hits them. What's this, the third time Todd AO has been changed hands since the Hassaneins unloaded it on Liberty Media?
Old 26th September 2012
  #10
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Pedantic Sound's Avatar
 
🎧 5 years
Heard about this today, definitely did not see that coming. I wonder what will happen with the studios there.
Old 26th September 2012
  #11
Gear Maniac
 
🎧 10 years
It's a ****ing disaster for filmmaking in NYC is what it is.

Oh, excuse me...fookin' disaster...
Old 26th September 2012
  #12
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Henchman's Avatar
 
🎧 15 years
People around here are pretty shocked as well.
Old 26th September 2012
  #13
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Jeff Hayat's Avatar
 
🎧 10 years
I worked there for a long time until '07 (hey Tommy!). Very unfortunate for everyone - not only the employees, but everybody. Hope this is just temporary.
Old 26th September 2012
  #14
Deleted e479b20
Guest
shame!

Old 26th September 2012
  #15
Gear Maniac
 
🎧 10 years
The building is being revamped for increased retail space, which may help explain. Colony Records, a decades-long keeper of the ground and basement levels of Sound One's building, is closing as well. The document linked here is from the building's new owners and seems to show their intentions. It shows escallators running between the bottom four floors, shopping mall style. There are no escallators at the moment.

http://www.stonehengenyc.com/assets/...39ed32cdb6.pdf

Sound One is probably being forced out of the building because of escallating rents. CSS would have to decide if there is enough business to justify a buildout for Sound One somewhere else. Since Sound One is duplicated by other CSS holdings, I'm not even going to guess what their end game is.
Old 26th September 2012
  #16
Gear Maniac
 
🎧 10 years
Sound One is not duplicated by any other CSS holdings in New York. And closing down this company is insanity. Granted, they should have moved out of the Brill Building years ago, the rent there is unsustainable.

That said, losing Sound One would be the NYC equivalent of losing General Motors. It's unthinkable for the NYC film community, and it comes at the worst possible time, when brand new tax incentives are, and will be, bringing in a lot of new work. If Sound One closes it will stifle that process and hurt EVERYONE who is working making movies in New York.

I feel that the State and the City should step in and offer some help in keeping Sound One open, free of the noxious corporate overlords who have hollowed out a once thriving company over the last decade or so, and the vulture capitalists who are looking to close it down.
Old 26th September 2012
  #17
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🎧 15 years
Tom, I'm not familiar with the New York scene, but aren't their other studios that can do the work that was being done at Sound One?
Old 27th September 2012
  #18
Here for the gear
 
🎧 5 years
Sad news to hear. It was never the same since the corporate take over. Hopefully something good will grow out of this. I could use a new room..
dlmrun2002
Old 27th September 2012 | Show parent
  #19
Gear Maniac
 
🎧 10 years
Quote:
Originally Posted by Henchman ➑️
Tom, I'm not familiar with the New York scene, but aren't their other studios that can do the work that was being done at Sound One?
I think it depends on the volume of post work that comes to NY due to the new tax incentives, and we are expecting that it will be significant. I'm sure that this was very carefully planned, and that it's been secretly in the works for a long time. Without Sound One, there is only so much the other existing facilities can absorb, especially in the larger budget feature world. It's not like LA. We don't have major and minor post houses all over town. Sound One had several feature stages along with a couple of smaller TV rooms, and a lot of editorial space. Short of some kind of miracle, it's all going to be gone virtually overnight. Ponder that. And then ponder who the beneficiaries of this move might be.

Things that make you go...hmmmm...?
Old 27th September 2012
  #20
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🎧 15 years
Tom, I don't think it's quite as pre-meditated as you might think.
These corporate people think in dollars and cents. And it's obvious that Sound one wasn't worth holding onto, because of the excessive rent. I wouldn't be surprised to see any of the other smaller places here in LA that own buildings that are worth more than what the business brings in, to be shut down and sold as well. And work consolidated under one management umbrella. Why pay multiple facility managers, when you can pay one?

And, of the work IS there in NY, I'm sure there will be people to fill the void.
Old 27th September 2012
  #21
Gear Nut
 
🎧 10 years
Tom do you think this is going to have a lasting negative effect on the NYC post-sound scene? Or do you predict it will be resolved somehow and everything will get worked out?
Old 27th September 2012
  #22
Here for the gear
 
🎧 5 years
info

Gary: it was the Naify's that owned Todd-A0 not Salah Hassenin. Also it is a privately held holding company so it does not have shareholders as such and is not publicly traded. I think there will be more to the story as it unfolds. I truly feel bad for all the talent and managers who were so unceremoniously left out in the cold! There may be some bandaid fixes in order until things can be worked out. No one feels good about this in the slightest. I hope the whole NY community ralleys and supports a positive solution..
Old 27th September 2012
  #23
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🎧 15 years
On Empire's Website:

Investment Transition
The first 120 days of a newly acquired company are viewed as the most critical to the success of the investment. In fact, prior to closing a transaction, Empire has developed a transition plan, which captures the operational, extraction and strategic needs of the newly acquired company. Post acquisition, the firm deploys a dedicated team of operational experts within various functional disciplines to support the company in the execution of the transition plan, as well as build out the company's new infrastructure. While Empire takes an active role in each of its portfolio companies, we insist that autonomous and empowered management is critical to the long-term success of any company. For Empire this is a time for intense learning, which is critical to determine the best strategic plans for each company.
====================================

The next 100 days will be interesting.
Old 27th September 2012
  #24
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🎧 15 years
Having read heir website, it seems they are a company that has long term investment views. So,it doesn't seem like a, buy it, and sell off the assets for a quick profit, kind of company.
Old 27th September 2012 | Show parent
  #25
Gear Maniac
 
🎧 10 years
Quote:
Originally Posted by dr.sound ➑️
On Empire's Website:

Investment Transition
The first 120 days of a newly acquired company are viewed as the most critical to the success of the investment. In fact, prior to closing a transaction, Empire has developed a transition plan, which captures the operational, extraction and strategic needs of the newly acquired company. Post acquisition, the firm deploys a dedicated team of operational experts within various functional disciplines to support the company in the execution of the transition plan, as well as build out the company's new infrastructure. While Empire takes an active role in each of its portfolio companies, we insist that autonomous and empowered management is critical to the long-term success of any company. For Empire this is a time for intense learning, which is critical to determine the best strategic plans for each company.
====================================

The next 100 days will be interesting.
Yeah...riiiiight...so that said, they bought and closed the company within one week.
Old 27th September 2012
  #26
Here for the gear
 
🎧 5 years
Can't someone Call Kim Waugh and Skip L. form Warner and get them to be the 1st Major to establish a Post Production facility in NYC? The time is right with all the incentives. It is ripe for the taking.
dlm Run
Run Strong Live Long
Old 27th September 2012 | Show parent
  #27
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🎧 10 years
Quote:
Originally Posted by finalmix ➑️
Gary: it was the Naify's that owned Todd-A0 not Salah Hassenin. Also it is a privately held holding company so it does not have shareholders as such and is not publicly traded. I think there will be more to the story as it unfolds. I truly feel bad for all the talent and managers who were so unceremoniously left out in the cold! There may be some bandaid fixes in order until things can be worked out. No one feels good about this in the slightest. I hope the whole NY community ralleys and supports a positive solution..
I stand corrected, I believe Salah was president of the company, at least he was while I worked there, which was when it was sold to Liberty, but my point was that I don't understand why an investment company would be interested in post production facilities. They don't seem to have much potential for high returns on one's money.
Old 27th September 2012
  #28
Gear Nut
 
🎧 10 years
I heard The Dub Stage was opening up in NYC.
Old 27th September 2012 | Show parent
  #29
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🎧 15 years
Quote:
Originally Posted by piratepost ➑️
I heard The Dub Stage was opening up in NYC.
Peter,
You gotta get those ears checked
Old 27th September 2012 | Show parent
  #30
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Henchman's Avatar
 
🎧 15 years
Quote:
Originally Posted by Dog Murray ➑️
Can't someone Call Kim Waugh and Skip L. form Warner and get them to be the 1st Major to establish a Post Production facility in NYC? The time is right with all the incentives. It is ripe for the taking.
dlm Run
Run Strong Live Long
I don't know if the cost involved, and the price to rent a space makes it a feasible investment.
If it did, sound one wouldn't have been shut down.

Or am I missing something?
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