AME of Burbank Halts Talks of Purchase With Third Party
AME Inc. said it ended talks with an unidentified third party that had expressed interest in possibly buying the Burbank video post-production company.
The third party’s interest surfaced after AME’s founder and chairman, Andrew M. McIntyre, offered to buy the 55% of AME he does not already own for $37 million. But McIntyre scrapped his $13.75-a-share bid last month because he was unable to get financing “on satisfactory terms.”
AME still might get a buyout proposal, however. Its employee stock ownership plan, which already owns 25% of AME, also has said it might be interested in offering to buy the company.
AME mainly transfers movies and television shows from film to videotape for mass distribution. It also provides computer animation, graphics and audio post-production services.