Thomson Addresses Grass Valley Divestiture Via Letter From Senior VP


Below is a letter from Jeff Rosica, senior vice president, Grass Valley Business Division:

After the recent public announcement by Thomson on its intentions to sell the Grass Valley business, I wanted to take this opportunity to brief you as fully as possible today.

The underlying decision to divest parts of the Thomson portfolio, including the Grass Valley business division, was strictly one of redirecting and focusing Thomson’s strategic direction. As you should be aware from the press release, this focus will be mainly centered on services offered to content creators through its leading market position and strong Technicolor brand. Specific to Grass Valley, we will be celebrating our 50th anniversary this year. No other major company in the history of the broadcast television industry has continuously held leading market positions for several decades, let alone remained committed to serve the industry for 50 years, as Grass Valley has. This is an unmatched achievement, and such business continuity and longevity in the market wouldn’t be possible without the standard setting technology, innovative products and solutions, as well as the tireless passion and commitment that everyone at Grass Valley holds for the business and our customers.

Over the past several months, Thomson has taken the opportunity to regroup all of the related businesses – including content production, facility infrastructure, network distribution, and transmission related product areas – under the Grass Valley brand, and a single, proven leadership team. Grass Valley is a solid business with exciting opportunities for the future.

I assure you that we remain fully focused on the success of Grass Valley and our customers, and that all current customer project deployments will continue to be carefully managed. Through the transition, all contractual commitments will continue to be met in order to ensure uninterrupted business for Grass Valley and our customers. I can also reassure you that our customers will continue to be looked after by the same committed team of management, factory, sales and support personnel from Grass Valley that they have known for many years.

As Thomson moves forward with the sale of the Grass Valley business, the company will be making future announcements and will work to keep the media, and our customers, informed of any news that would be appropriate.

Looking ahead to NAB 2009, Grass Valley will continue its long tradition by introducing very innovative and exciting new products in this, our 50th anniversary year. I look forward to seeing you there.

Best regards,

Jeff Rosica
Senior Vice President
Grass Valley Business Division

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