DCD Media has revealed plans to complete all post-production work in-house after the super-indie acquired struggling facility Sequence this week.
Sequence was put into voluntary liquidation at the start of February after it ran into financial difficulties late last year.
DCD Media chief executive David Green told Broadcast that the deal to take on Sequence’s senior management, assets and building, for an undisclosed sum, represented a “sea change” for DCD, which previously limited its in-house post work to occasional offline edits.
He said DCD’s production companies, including September, Prospect and Rize, would be strongly encouraged to use the in-house facility. “It will be more of a two-line than a three-line whip, but [production teams] will have little or no reason not to use Sequence; there will be price and creative advantages,” Green explained.
This week, Sequence completed the online edit, GFX and grade for DCD-produced My Social Network Stalker for Channel 4, but Green said the bulk of Sequence’s work would initially come from external clients.
“We hope to be so busy as a group that in two or three years, there will be no capacity for outside work. But for the time being, it will form the bulk of the work, with in-house projects in the minority.”
Recently established DCD Post Production will trade as Sequence, which will remain at its current Fitzrovia base, with some back-office functions performed by DCD.
Sequence founder Ben Foakes has become head of post.
“A lot of larger groups and smaller production companies are moving to in-house post models,” Foakes said. “With this deal, Sequence will remain an independent supplier to our existing and historical clients. I believe this balance will massively strengthen our offering across the industry.”
DCD said there were “no planned exits” of Sequence employees, but two staff members – facility manager Lucie Parker and one other – left the company last month.
Last week, chartered accountancy firm Kay Johnson Gee informed Sequence’s suppliers of a creditors’ meeting that will take place on 28 February in London.