New York Editorial,  VFX and Motion Design House to Close by  February 1

Version2, the renowned New York-based editorial and visual effects/motion design house plans on closing its doors by February 1, 2009, after completing all open projects and meeting its financial obligations. Although the Version2 companies saw an overall growth in billings in 2008, founder Vito DeSario has felt for some time that the boutique style editing company model he created in 1988 is no longer viable for him personally or professionally in today's economy. "I'd been thinking about making a change for a couple of years now but how and when was the question. With the talents of Sloane Klevin leaving to open Union NY as Partner/Editor and Tina Mintus heading to Cut + Run NY, my opportunity to finally move in another direction became viable," said DeSario. "The company had become a size where we needed to pull in a certain volume of work to feed the machine. I lacked the fire and conviction I once had to re-staff and recreate the same model I no longer believed in. Instead, I want to be part of something completely fresh; a company that makes sense in today's market. To do that, I chose to close Version2 which I've found to be a truly liberating experience."
DeSario admits it’s still a difficult choice to close shop with the memory of the many individuals who over the years had contributed to its success, but also proudly remembers the talent he nurtured and the lifelong friendships the company helped forge over the course of 20 years.

Dating back to its original name when it opened in the fall of 1988, Vito DeSario Editing, Version2 (a banner that was launched in 2000) continuously sought to break new ground, helping the industry spread its geographic wings beyond midtown Manhattan over to the Flatiron District and then the Westside. The company also helped usher in a new style of editing as well as today’s boutique style editorial model. New talent was brought in from the UK, Paris and South Africa to consistently turn out top-tier, diversified work. Internally pegged as “a school of editing,” V2 sought fresh talent in all areas of post production. DeSario quipped, “We even had a music company at one time but I think that was going a bit too far for its time. What we always did right however, was to put together a great team of talented artists in every position, and as a testament to our success they were all immediately sought after as soon as word hit the street of our closing.”

What’s next? DeSario is quiet when it comes to talking about his next venture but did say, “It has become perfectly clear what one new model will look like. I have always embraced change and will continue to do so moving forward. I’m looking to develop and implement a contemporary business model that will be effective in this marketplace.” As for when this new model will be unveiled, DeSario is confident that once Version2 is put to bed, he will be able to get his new enterprise up and running during the summer of ’09.