"Moving to a common production platform across all of our news markets provides us the platform to create a content sharing news community across Sinclair increasing efficiency and productivity," said
Operating efficiency is a major pressure point for media companies, as rapidly evolving technology and audience behavior make staying at the forefront of technology essential. Sinclair expects to realize meaningful economic benefits through this agreement by standardizing on the Avid platform, driven by efficiencies from a standardized technology and operational footprint across all of its stations. This not only enables Sinclair to keep its newsroom technology consistent, continuously refreshed and on the leading edge across the enterprise, but also provides much greater flexibility in responding to industry changes and new business opportunities.
"Sinclair has always been at the forefront of industry-changing events and technological advances, and this agreement with Avid is another example of that," added
"The unique commercial model Avid is applying - along with the enterprise-wide platform
approach - allows us to operate in a more cost effective and capital efficient way, yet remain technologically forward in a manner that makes sense for our business today and in the future," said
"Our agreement with Sinclair is an outstanding example of how Avid Everywhere can help media organizations overcome the challenges of managing technology, staying competitive, and maximizing the value of content," said
Powered by the MediaCentral Platform, the next-generation IP-based workflow for Sinclair's news producing stations will feature Avid's Artist Suite, Storage Suite and Media Suite solutions with third-party and custom workflow integrations. Avid Professional Services and Training teams will provide project and fleet management, commissioning, workflow consulting, and a comprehensive training curriculum. Avid's Customer Care team will deliver a tailored 24/7 support program across the enterprise.
"We're excited that the Avid Everywhere vision has led to the largest contract in our Company's history. We expect this contract will have a material positive impact on our bookings for the fourth quarter and may lead to updated 2015 bookings guidance or pre-release in early January 2016," said
Through Avid Everywhere™, Avid delivers the industry's most open, innovative and comprehensive media platform connecting content creation with collaboration, asset protection, distribution and consumption. Media organizations and creative professionals use Avid solutions to create the most listened to, most watched and most loved media in the world—from the most prestigious and award-winning feature films, to the most popular television shows, news programs and televised sporting events, as well as a majority of today's most celebrated music recordings and live concerts. Industry leading solutions include Pro Tools®, Media Composer®, ISIS®, Interplay®,
ProSet and RealSet, Maestro, PlayMaker, and Sibelius®. For more information about Avid solutions and services, visit www.avid.com, connect with Avid on Facebook, Instagram,
Cautionary Note Regarding Forward-Looking Statements
The information provided in this press release includes forward-looking statements that involve risks and uncertainties, including statements about our anticipated expectations, plans, earnings,
bookings and operational results. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, without limitation, statements regarding the term of the Agreement, the total contract value of the Agreement, our earnings under the Agreement, our ongoing relationship with Sinclair and our future bookings. These forward-looking statements are based on current expectations as of the date of this press release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including but not limited to the effect on our bookings, earnings, operations and financial performance, resulting from our ability to perform our obligations under the Agreement, a possible early
termination of the Agreement, our ability to realize our expected earnings under the Agreement, our ability to provide innovative products and solutions, our ability to hire and retain competent and skilled technical personnel, quality issues our products may experience and competitive factors. The risks included above are not exhaustive. Other factors that could adversely affect our business and prospects are described in the filings made by our company with the
Sara GriggsAvid firstname.lastname@example.org 310-907-6909
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