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Industry: Email Alert RSS FeedFlite 3 Studios closes - Post News
Post, July, 2003
BALTIMORE -- The 45-year-old production/post facility Elite 3 Studios announced last month that it is ceasing operations effective immediately and that it is liquidating its assets.
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The decision was based on several factors. Approximately two years ago, Elite 3 initiated a comprehensive analysis of its industry, marketplace and regional business trends that indicated that large, traditional production facilities were on the decline. Other factors included the resulting economic downturn following 9/11 ,the decline in the region's advertising community, the accessibility of the industry's production and editing technologies that is diluting the marketplace and the ongoing issue of projects being produced out of state and out of country.
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