It came as no surprise last week when Avid Technology received a notification letter from NASDAQ that the company would be delisted and trading of its stock would be suspended. For many of us in the creative end of the entertainment business who have watched the company try to battle through its troubles during the last few years, the question was more of “when” than “if” this scenario would happen. The writing had been on the wall for some time.
If you’re not aware, Avid Technology is the maker of video editing tools that are used at all levels and stages of the creative process in both television and movies. In 1995 Avid acquired Digidesign, the maker of Pro Tools, which is the standard audio editing hardware and software, giving the company leadership in both the audio and video editing sectors. In fact, Pro Tools is the standard digital audio workstation used in the creation of nearly every major motion picture and television show, as well as most of the music you hear today. While there are other very capable software audio packages available, Pro Tools is truly a universal standard when it comes to any audio job on a professional level. [read]