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Avid was founded in August 1987 by Bill Warner, a former marketing manager from Apollo Computer.
A prototype of their first non-linear editing system, the Avid/1 Media Composer, was shown at the National Association of Broadcasters (NAB) convention in April 1988. The Avid/1 was based on an Apple Macintosh II computer, with special hardware and software of Avid's design installed.
The Avid/1 was "the biggest shake-up in editing since Melies played with time and sequences in the early 1900s".
By the early 1990s, Avid products began to replace such tools as the Moviola, Steenbeck, and KEM flatbed editors, allowing editors to handle their film creations with greater ease. The first feature film edited using the Avid was Let's Kill All the Lawyers in 1992, directed by Ron Senkowski. The film was edited at a 30fps NTSC rate, then used Avid MediaMatch to generate a negative cutlist from the EDL. The first feature film edited natively at 24fps with what was to become the Avid Film Composer was Emerson Park. The first studio film to be edited at 24fps was Lost in Yonkers, directed by Martha Coolidge.
By 1994 only three feature films used the new digital editing system. By 1995 dozens had switched to Avid, and it signaled the beginning of the end of cutting celluloid. In 1996 Walter Murch accepted the Academy Award for editing The English Patient (which also won best picture), which he cut on the Avid. This was the first Editing Oscar awarded to a digitally edited film (although the final print was still created with traditional negative cutting).
In 1994 Avid introduced Open Media Framework (OMF) as an open standard file format for sharing media and related metadata.
Over the years, Avid has released numerous freeware versions of Media Composer. Initially this included Avid Free DV: a free edition of Media Composer with limited functionality; Avid Xpress DV: a consumer edition of Media Composer; and then Avid Xpress Pro: a prosumer edition of Media Composer. These editions were discontinued in 2008 as the flagship Media Composer was lowered in price. Later, Avid released Media Composer | First, which included a large portion of Media Composer's functionality but its exporting workflows publishing finished videos directly to web services like YouTube.
On March 29, 1999, Avid Technology, Inc. adjusted the amount originally allocated to IPR&D and restated its third-quarter 1998 consolidated financial statements accordingly, considering the SEC's views.
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In February 2018, Avid appointed Jeff Rosica as CEO, after terminating Louis Hernandez Jr, who was accused of workplace misconduct.
In November 2023, Avid Technology was acquired by an affiliate of STG for $1.4 billion. This process delisted Avid from the public stock exchange, making it private.
In April 2024, Avid appointed Wellford Dillard as CEO, succeeding Jeff Rosica.
From Wikipedia’s article on Avid Technology, shared under CC BY-SA 4.0.7