By Brendan Swift

Deluxe Entertainment Services Group has paid $US68 million ($70.7 million) to acquire Ascent Media Group’s post-production businesses.

The US-based deal includes the well-known brands of Company 3, Beast, Method, Rushes, Encore Hollywood and Level 3 Post and will also bolster Deluxe’s life-cycle library management and digital asset management services.

“Deluxe is well positioned to take our company into the future as technologies continue to transform how customers create and distribute content for films and television programs,” Deluxe president and chief exeucutive Cyril Drabinsky said in a statement.

Ascent Media will continue to own its content distribution and systems integration businesses.

Deluxe is the world’s largest processor of film for the motion picture industry and the industry’s largest provider of Blu-ray authoring services.

Deluxe Australia managing director Alaric McAusland was unavailable to comment on the acquisition's impact on the local business.

The company this month announced plans to acquire local commercial post production business MRPPP (previously known as Mike Reed Partners Post Production).

In October, Deluxe Australia appointed experienced satellite veteran Adrian McCarten to spearhead its satellite initiatives, which will deliver traditional 2D and 3D feature films, live events, special content, and other programming designed for digitally equipped theaters.

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