investors was film director Steven Spielberg, who felt that theatrical sound formats up until the company's founding were no longer state of the art, and as a result were no longer optimal for use on projects where quality sound reproduction was of the utmost importance. Spielberg debuted the format with his 1993 production of Jurassic Park, which came slightly less than a full year after the official theatrical debut of Dolby Digital (Batman Returns). In addition, Jurassic Park also became the first home video release to contain DTS sound when it was released on LaserDisc in January 1997, two years after the first Dolby Digital home video release (Clear and Present Danger on Laserdisc), which debuted in January 1995. Universal Pictures would exclusively support DTS until late 1997. In 2008, the cinema division was divested to form DTS Digital Cinema. In 2009 DTS Digital Cinema was purchased by Beaufort International Group Plc. and became known as Datasat Digital Entertainment. SRS Labs In 2012, DTS acquired the business of SRS Labs (Sound Retrieval System), a psychoacoustic 3D audio processing technology, including over 1,000 audio patents and trademarks. Manzanita Systems In 2014, DTS acquired Manzanita Systems, a provider of MPEG software for digital television, VOD, and digital ad insertion. Phorus Phorus, a subsidiary of DTS, Inc., is a Los Angeles-based technology group dedicated to wireless audio for connected devices. HD Radio (iBiquity) On September 2, 2015, iBiquity announced that it was being purchased by DTS for US$172 million, uniting iBiquity's HD Radio digital radio broadcast technology with DTS' digital audio surround sound systems. Theatrical use In theatrical use, a proprietary 24-bit time code is optically imaged onto the film. An LED reader scans the timecode data from the film and sends it to the DTS processor, using the time code to synchronize the projected image with the DTS soundtrack audio. The multi-channel DTS audio is recorded in compressed form on standard CD-ROM media at a bitrate of 882 kbit/s. The audio compression used in the theatrical DTS system (which is very different and completely unrelated to the home Coherent Acoustics-based DTS Digital Surround format) is the APT-X100 system. Unlike the home version of DTS or any version of Dolby Digital, the APT-X100 system is fixed at a 4:1 compression ratio. Data reduction is accomplished via sub-band coding with linear prediction and adaptive quantization. The theatrical DTS processor acts as a transport mechanism,