Press Release - Avid to Join Russell 3000 Index

BURLINGTON, MA, Avid® (Nasdaq:AVID) announced on June 29th of 2015 that the Company has joined the broad-market Russell 3000Ò Index at the conclusion of the Russell indexes annual reconstitution (Russell website) on June 26, 2015.

Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000Ò Index or small-cap Russell 2000Ò Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

“We are pleased to join the Russell 3000 Index” said John Frederick, Executive Vice President, Chief Financial and Administrative Officer of Avid.   “We continue to make great progress in the transformation of the Company and are focused on addressing some of the most critical issues the media industry faces today all while working on creating value for our shareholders.”

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $5.7 trillion in assets are benchmarked to the Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell reconstitution, go to “Recon Central” section on the FTSE Russell website.

About Avid

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 for the most listened to, most watched and most loved media in the world—from the most prestigious and award-winning feature films, music recordings, and television shows, to live concerts and news broadcasts. Industry leading solutions include Pro Tools®, Media Composer®, ISIS®, Interplay®, and Sibelius®. For more information about Avid solutions and services, visit www.avid.com, connect with Avid on Facebook, Instagram, Twitter, YouTube, LinkedIn; or subscribe to Avid Blogs.

About FTSE Russell:

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 80 countries, covering 98% of the investable market globally and trading on over 25 exchanges worldwide.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Leading asset owners, asset managers, ETF providers and investment banks use FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance. FTSE Russell is also focused on index innovation and client collaboration as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit www.ftserussell.com. 

Press Release: AES Announces Avid CEO Louis Hernandez Jr. as Keynote Speaker at 57th International Conference on the Future of Audio Entertainment Technology

AES Announces Avid CEO Louis Hernandez Jr. as Keynote Speaker at 57th International Conference on the Future of Audio Entertainment Technology The AES announced that Avid Chairman, President, and Chief Executive Officer Louis Hernandez Jr. will give the keynote speech at the 57th International Conference, taking place in Hollywood, California, March 6-8, 2015. The Conference, being held at the world-famous TCL Chinese 6 Theatres on Hollywood Boulevard, will feature some of the best and brightest in the world of engineering for entertainment production, as the AES holds its first-ever dedicated event on The Future of Audio Entertainment Technology. Hernandez will present his keynote address on March 6, at 8:00 AM. In his role at Avid – an award-winning, provider of industry-standard audio and video technology used to help creative and media professionals – Hernandez served both as lead Director and member of the Board of Directors for five years before taking on his current role as Chairman, President, and Chief Executive Officer, giving him a unique presence in the industries that directly serve the Sound-for-Picture and Media audience. Hernandez also oversees Avid’s strategic investments in product innovation, solutions, and services that help content creators and media organizations better connect with and inspire their audiences. Avid’s sustaining membership and participation in the AES – combined with Hernandez’s focus and passion for advancing technology initiatives that specifically enable the active collaboration and connection between individuals, teams, and businesses – will offer a unique perspective for the AES 57th Conference keynote address. “We are very excited to be able to bring Mr. Hernandez on as our keynote speaker for the 57th Conference,” stated AES Executive Director Bob Moses. “To have such an industry leader address our attendees goes hand-in-hand with the top-notch program that Brian McCarty and Sean Olive have put together. Our shared goals and common interests in the advancement of those that engineer and produce today’s entertainment, in all forms, speaks volumes about a bright future ahead. We thank Mr. Hernandez and Avid for their sustaining membership and participation with the AES, and are looking forward to this first-ever AES engagement with Hollywood.”

Press Release- iZ RADAR STUDIO: RADAR and Pro Tools in One Box

Press Release:

iZ RADAR STUDIO: RADAR and Pro Tools in One Box Track and mix with a single, integrated, best-in-class audio appliance New Westminster, BC (January 15, 2015) - iZ Technology Corporation announces RADAR studio (patent pending), the culmination of 25 years of audio engineering excellence. In addition to its best-in-class sonics, unparalleled build quality, and brilliant simplicity, RADAR studio now runs DAW software, natively. Shipping with Pro Tools* and Harrison Mixbus, RADAR studio creates an entirely new category of digital audio recording technology: the integrated audio appliance. "Recording is a daunting task. Music producers must research and choose computers, software, audio and sync interfaces, hard drives, and unwieldy digital interface cabling and integrate them all into their studio," says Barry Henderson, President of iZ Technology Corporation. "RADAR studio is a turnkey solution that makes recording as easy as turning on the power and hitting the record button. The best hardware and your favorite software now seamlessly work together in one box to deliver the highest sound quality. Easy." RADAR systems are the premier choice for multi-track recording and playback in some of the finest recording studios, scoring stages, theatres, and post-production houses around the world. Legendary musicians and producers record on RADAR because of its cutting-edge technology, rock-solid reliability, customization capability and, of course, the sound quality it delivers. Now, music producers can run their favorite DAW software and plug-ins inside RADAR studio for the best of both worlds. RADAR studio Key Features: Breathtaking Sound - near-zero jitter, pristine signal path and the latest converter technology Runs Pro Tools - track, mix and automate, using all plug-ins and features of native  DAW software Simplicity - just arm tracks and hit record. Focus on the music Workflow - integrate iZ Session Controller and MeterBridge for a traditional studio feel Customizable -configurable I/O, drive bays, external media, DSP cards, and peripherals Reliability - rock-solid, time tested performance; avoid endless techno-tweaking and mid-session reboots World-renowned Support - comes with 10 years of free customer support. iZ Technology Corporation will debut RADAR studio at the annual NAMM Show in Anaheim, California on January 22 in HALL A, booth 6890 and host appearances and Q&A with the following: Alex Krispin (Engineer for Daniel Lanois) - Thursday, 1/22 at 11am & 2pm. Nick Peck (Head Editor, Disney Worldwide Publishing) - Friday, 1/23 at 11am & 2pm. Tony Shepperd (Engineer/Mixer/Producer) - Saturday, 1/24 at 11am & 2pm. Pricing & Availability: RADAR studio is available now at an introductory price of $4,995 for a limited time. Pro Tools HD 11 is pre-installed (*user provides license key). Visit www.izcorp.com for product and ordering information. About iZ Technology Corporation: iZ Technology Corporation, a Canadian owned and operated company, has been developing visionary music and audio products for 25 years. Their renowned RADAR line of multi-track audio recorders and the unparalleled ADA A/D & D/A audio converters have helped thousands of customers realize their goals by delivering excellence and innovation in recording products of the highest quality. iZ is known for their uncompromising commitment to sound quality, rock solid reliability, extreme ease of use, and outstanding technical support.

Press Release - Avid Everywhere Brings Foo Fighters Sonic Highways Recording Odyssey To Life

Press Release : Avid Everywhere Brings Foo Fighters Sonic Highways Recording Odyssey To Life

HBO documentary series deploys Avid MediaCentral Platform for fast, collaborative workflows to manage huge volumes of footage and tight timescales 

Avid® (OTC: AVID) today announced that the creative teams behind Foo Fighters Sonic Highways embraced Avid EverywhereTM to create the HBO documentary series commemorating the band’s 20th anniversary. The Avid MediaCentral Platform powered a fast, efficient and collaborative workflow that gave the teams the creative freedom to infuse each episode with a different style, while managing a vast amount of footage and tight timescales.

Directed by Foo Fighters frontman Dave Grohl, the eight-part series sees the band travel to legendary music studios in cities across the nation – Chicago, Austin, Nashville, Los Angeles, Seattle, New Orleans, Washington, D.C. and New York - to write and record their latest album, Sonic Highways, which was released on November 10. Each episode features interviews with influential artists, producers and studio owners - from superstars like Dolly Parton and Willie Nelson, to pioneers like Steve Albini and Daniel Lanois.

The editing and sound teams established a collaborative post production environment with the Avid Artist Suite’s Avid Media Composer® | Software and Avid Pro Tools® | Software. According to sound mixer Jeff Fuller, Pro Tools helped the sound teams cope with increasingly tight timescales and give each episode a different style. “We went from having a week-and-a-half to turn around the first episodes to just three or four days by the end, but Pro Tools was amazingly robust,” he said. “We had absolutely no glitches with it throughout the entire production. The workflow didn’t change much, but we changed the mix stylistically for each episode to keep it fresh.”

Six video editors – Brian Lazarte, Scott Hanson, Grant MacDowell, Kristin McCasey, Lenny Mesina, and Meg Ramsay – each took the lead on one or two episodes. As the editors finished their episodes, they helped out on others, sharing sequences and footage, to meet the tight deadlines. The editors also collaborated closely with Grohl, and writer Mark Monroe.

With an average of 400 hours of footage per episode, Media Composer’s media management and project sharing capabilities helped the editors cope with the sheer volume of footage as well as facilitating collaboration. “Project sharing in Media Composer across all the editors and assistants makes a huge difference in terms of being able to collaborate and work efficiently,” explained Hanson, who cut the Austin episode.

Media Composer’s tight integration with Pro Tools also helped boost efficiency and collaboration between the editing and sound teams. “Using Avid Artist Suite solutions for both the audio and video delivered reliability and stellar results,” said Lazarte, who cut the Seattle episode. “I’ve used this workflow on every major project, and I love and trust it.”

“With Avid Everywhere, creative professionals can connect and collaborate seamlessly to bring their stories to life,” said Jennifer Smith, senior vice president and chief marketing officer, Avid. “To create such a unique and compelling documentary - while managing huge volumes of content and extremely tight deadlines - is testament to the power of Avid Everywhere, and the talent of the Foo Fighters Sonic Highways team.”

Press Release - AVID Re-lists on NASDAQ

Avid (OTC: AVID) today announced that it has received approval to list its common stock on The NASDAQ Stock Market, LLC effective with the open of trading on Monday, December 8, 2014.  The Company will continue to trade under the symbol AVID.

“We are pleased that Avid stock will once again trade on the NASDAQ,” said John Frederick, Executive Vice President, Chief Financial and Administrative Officer of Avid. “We believe this milestone offers current and future Avid shareholders an exciting opportunity to share in the success of our business through improved access to our common stock. We look forward to generating sustainable, profitable growth as we continue to execute on our plan to unlock the full potential of Avid.”

Forward-Looking Statements

The information provided in this press release includes forward-looking statements that involve risks and uncertainties, including statements about our anticipated plans, objectives, expectations and intentions. Such statements include, without limitation, statements regarding our recently filed financial statements or other information included herein based upon or otherwise incorporating judgments or estimates, including statements herein relating to future performance such as our future adjusted EBITDA, earnings, bookings, free cash flow, payments for restatement-related expenses; our future strategy and business plans; and our anticipated timing for filing our future quarterly reports. These forward-looking statements are based on current expectations as of the date of this 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. Unknown risks and uncertainties include, but are not limited to the effect on our sales, operations and financial performance resulting from the identified material weaknesses in our internal control of financial reporting; the delisting of our stock from NASDAQ; the previously disclosed ongoing SEC and Department of Justice inquiries; pending litigation, including the previously disclosed class action and possibility of further legal proceedings adverse to our Company resulting from the restatement or related matters; the costs associated with the restatement; our liquidity; our ability to execute our strategic plan and meet customer needs; our ability to produce innovative products in response to changing market demand, particularly in the media industry; our ability to successfully accomplish our product development plans; competitive factors; history of losses; fluctuations in our revenue, based on, among other things, our performance in particular geographies or markets, fluctuations in foreign currency exchange rates and seasonal factors; adverse changes in economic conditions; and variances in our backlog and the realization thereof. Moreover, the business may be adversely affected by future legislative, regulatory or tax changes as well as other economic, business and/or competitive factors. The risks included above are not exhaustive. Other factors that could adversely affect our business and prospects are described in our filings with the SEC. We expressly disclaim any obligation or undertaking to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.