With this, medi editing changed forever.Īt that NAB Show, Warner recalled at the time, “I could taste it. The Avid/1 could simultaneously handle full-motion color video at 30 FPS and two channels of 44 Khz, 16-bit sound. TV Tech Editor in Chief Tom Butts (L) and Bill Warner, Avid founder at the National Inventors Hall of Fame Induction, 2019 (Image credit: Future)

By 1989, with the help of the Macintosh CPU, the Avid/1 Media Composer became a viable product with real-time video compression techniques that could instantly display edited sequences. One key component was the Apple Macintosh. It took a convergence of technology to make Warner’s dream come true. Avid was started with the sole goal of providing a faster way to create media. Linear editing, then the standard, was too hard and cumbersome. Media Composer opened the door to nonlinear editing. At the 1987 NAB Show, the company, founded by inventor Bill Warner, demonstrated the first prototype of the Avid Media Composer in a hotel suite. Whatever the implications of the sale turn out to be, Avid has a long and rich history in the video business.

The deal includes a termination fee of $39.8 million should Avid terminate the transaction, which limits the company’s ability to entertain alternative proposals. Closing of the transaction is expected during the fourth quarter of 2023, though at presstime the deal was still subject to Avid stockholder and regulatory approval, along with other “customary closing conditions.” Avid’s board of directors has unanimously accepted the offer. For Avid’s user base, moving from a publicly traded company to a private company leaves questions unanswered.

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