EXHIBIT 99
NEWS BULLETIN
FOR FURTHER INFORMATION:
POINT.360
7083 HOLLYWOOD BLVD. SUITE 200
HOLLYWOOD, CA 90028
Nasdaq: PTSX
AT THE COMPANY:
Alan Steel
Executive Vice President
(323) 860-6206
FOR IMMEDIATE RELEASE - HOLLYWOOD, CA, July 1, 2004
POINT.360 COMPLETES ACQUISITION OF INTERNATIONAL VIDEO CONVERSIONS, INC.
Point.360 (Nasdaq: PTSX) ("the Company"), a leading provider of integrated media
management services, today completed its acquisition of International Video
Conversions, Inc. ("IVC"). IVC is one of the largest independent high definition
and standard definition digital mastering and data conversion facilities,
serving the motion picture and television industry.
Haig S. Bagerdjian, Point.360's Chairman, President and Chief Executive Officer,
said: "The acquisition of IVC significantly expands Point.360's revenue base and
brings to us a talented technical and operating team. We look forward to taking
advantage of the expanded customer relationships and service offerings of both
IVC and Point.360."
ABOUT POINT.360
Point.360 is one of the largest providers of high definition and standard
definition video and film asset management services to owners, producers and
distributors of entertainment and advertising content. Point.360 provides the
services necessary to edit, master, reformat, convert, archive and ultimately
distribute its clients' film and video content, including television
programming, spot advertising, feature films and movie trailers.
The Company delivers commercials, movie trailers, electronic press kits,
infomercials and syndicated programming, by both physical and electronic means,
to hundreds of broadcast outlets worldwide.
The Company provides worldwide electronic distribution, using fiber optics,
satellites, and the Internet.
Point.360's interconnected facilities in Los Angeles, New York, Chicago, Dallas
and San Francisco provide service coverage in each of the major U.S. media
centers. Clients include major motion picture studios, advertising agencies and
corporations.
FORWARD-LOOKING STATEMENTS
Certain statements in Point.360 press releases may contain "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements include, without limitation (i) statements concerning
the Company's projected revenues, earnings, cash flow and EBITDA; (ii)
statements of the Company's management relating to the planned focus on internal
growth and acquisitions; (iii) statements concerning reduction of facilities and
actions to streamline operations; (iv) statements on actions being taken to
reduce costs and improve customer service; and (v) statements regarding new
business and new acquisitions. Such statements are inherently subject to known
and unknown risks, uncertainties and other factors that may cause actual
results, performance or achievements of the Company to be materially different
from those expected or anticipated in the forward looking statements. In
addition to the factors described in the Company's SEC filings, including its
quarterly reports on Form 10-Q and its annual reports on Form 10-K, the
following factors, among others, could cause actual results to differ materially
from those expressed herein: (a) lower than expected net sales, operating income
and earnings; (b) less than expected growth, even following the refocus of the
Company on sales and streamlined operations; (c) actions of competitors
including business combinations, technological breakthroughs, new product
offerings and marketing and promotional successes; (d) the risk that anticipated
new business may not occur or be delayed; (e) the risk of inefficiencies that
could arise due to top-level management changes and (f) general economic and
political conditions that adversely impact the Company's customers' willingness
or ability to purchase or pay for services from the Company. The Company has no
responsibility to update forward-looking statements contained herein to reflect
events or circumstances occurring after the date of this release.