From Variety · Gene Maddaus · · 1m 30s
Cinelease scoops up Quixote's gear as the studio keeps shrinking
Quixote sells its grip, lighting and supply businesses to Cinelease, cutting about 60 jobs as the production slump bites.
In brief
Quixote sells its grip, lighting and supply businesses to Cinelease, cutting about 60 jobs as the production slump bites. The production slump is reshaping Hollywood's support businesses. Quixote is pulling back to trailers while Cinelease buys up assets to chase sports and live events. Originally reported by Variety.
Cinelease buys Quixote's gear
Film equipment rental house Cinelease is buying Quixote's grip and lighting equipment. Quixote keeps shrinking as film and TV production slumps.
About 60 jobs gone
Quixote began winding down its soundstage business in April and is now leaving the equipment business too. About 60 employees will be laid off, mostly in Los Angeles.
More than lights and grip
Cinelease is also taking Quixote's production supply assets, renamed Cinelease Pro Supplies, along with its portable restrooms and communications gear.
Growing past film and TV
Cinelease wants to expand into sports and live events. It recently bought C&C Studio Services, now Cinelease Rigging, and picked up barricades and fencing from West Coast Fencing.
“We see a significant opportunity to build Cinelease into a leading entertainment infrastructure platform”
A $360 million write-off
Hudson Pacific Properties paid $360 million for Quixote Studios in 2022, at the very peak of production. It has since written off the whole investment and laid off 70 people this year.
Quixote bets on trailers
Quixote closed its services businesses in Atlanta, New Orleans and Albuquerque and now focuses on transportation, including Star Waggons trailers. Cinelease says it will keep working with Quixote.
“Quixote will continue to be a market leader in transportation, including its iconic Star Waggons brand”
In short
The production slump is reshaping Hollywood's support businesses. Quixote is pulling back to trailers while Cinelease buys up assets to chase sports and live events.
