Cinelease Acquires Two Quixote Divisions To Expand Hollywood Studio Services
Cinelease has purchased the Grip and Lighting and Pro Supplies divisions from Quixote in Los Angeles.
Assets Move Under New Ownership
The production services supplier Cinelease, led by Louis Dargenzio, acquired these specific units from services firm Quixote. This transaction occurs as the real estate giant Hudson Pacific attempts to reduce its footprint in the industry.
Staff Reductions Follow The Sale
An estimated 60 staffers who worked on the sold units will lose their positions according to a source. Quixote stated that its remaining operations will continue serving clients with trailers and transportation solutions in Los Angeles and New York.
Industry Context For The Deal
Film and TV shoot days have declined over the past several years while local officials focus on tax incentives. Dargenzio previously led Zio Studio Services before its sale to Hudson Pacific in 2021 for $222 million.
Reported by one outlet
Only one outlet has published this. Nothing here has been checked against a second report, so read it as that outlet's account and follow the link below for the original.
Reported by
1 independent outlet. Headline as published. Links open the original report.