DTS Ditching Theaters, Staying Home
If you ever doubted how important the home theater market is, take a gander at this news flash. DTS, a leading innovator in surround sound, is ditching the movie business and concentrating solely on the home theater biz. They've officially sold their Digital Cinema business to Beaufort California, Inc. This news follows the earlier sale of Digital Images last month. Surprisingly, neither sale was for outrageous amounts: $7.5 million for the Digital Image business, and only $3.3 mill for the Cinema division. Here's what the CEO of DTS had to say about the sale.
According to Jon Kirchner, president, the sales will allow DTS "to focus entirely on building a high growth and highly profitable consumer business."
DTS and Dolby will always compete for space on home videos, but now DTS will not be competing in theaters and can concentrate on newer and better technologies. As a huge fan of the sound of DTS, I personally can't wait to see the coming attractions from DTS.-Leslie Shapiro