British media group Carlton Communications said Monday that it is close to a deal to sell its Technicolor division.

The company put Technicolor, which manufactures home video cassettes and DVDs and processes motion picture film, on the market last year as it prepared for a merger with United News & Media (which subsequently fell through). In an interview with the London Financial Times, analyst Anthony de Larrinaga of S.G. Equity Research in London predicted, "They should sell it at a high price, for about £1 billion ($1.4 million) in cash."

Source: Studio Briefing