Slate Media Group has entered a binding agreement to sell its Wexler Production business unit to Clair Global, which provides wireless sound, sound reinforcement and other sound services for live events and broadcast.
Under the terms of the agreement, Clair Global will acquire the Wexler name from Slate and will service current Slate production customers. Under the Wexler Production business line, Slate supplies cameras and other production gear including audio equipment to television and independent film productions. Slate Media Group will retain its wholly-owned Wexler Post Production business line, which supplies editorial systems and related assets to film and television productions. It will be integrated into Slate’s Hula Post Production unit.
“We believe this agreement will serve the best interests of both companies, as well as the best interests of our clients,” said Slate Media Group CEO David Rosen.
Rosen added that Wexler’s production team has been working closely with their counterparts at Clair Global for more than a year. “From the point of view of Wexler clients, we expect a seamless transition,” he said. As part of the agreement, Slate Media Group and Clair Global will conduct a joint effort to market their respective production and postproduction operations. The transaction is expected to close at the beginning of October.
In addition to Hula Post Production, Slate Media Group operates the postproduction facilities PostWorks and Technicolor – PostWorks, both in New York.