Pacific Title & Art Studio has been sold by holding company Safeguard Scientifics for $23 million to an investment group led by private-equity fund Celerity Partners, stage-venture capital firm Ticonderoga Capital and venture capitalist William Daniels.
Pacific Title president and CEO Phil Feiner, who had been with the company for nearly 30 years, has been dismissed, a move that stunned many in the industry.
Many who know Feiner describe him as synonymous with Pacific Title, a leading postproduction facility in Hollywood that was founded in 1919 by Leon Schlesinger of Warner Bros. Animation fame.
Feiner's projects included the creation of the company's digital imaging division in 1989. Last month, he and several colleagues were the recipients of an Academy of Motion Picture Arts and Sciences' Scientific and Engineering Award for the company's Rosetta digital film restoration process.
Feiner is a member of AMPAS' Scientific & Technical Committee, a member of the technology branch of the Academy, an associate member of ASC and its technology committee, an affiliate member of ACE, SMPTE and a member of Local 600 as a director of photography.
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