Hi Ben
Before developing the website itself, a good question to ask would be if the client is ever likely to run offline campaigns, such as print advertisements.
The reason being is that quite often it is hard to measure the impact and reach print advertisements have, along with calculating return of investment.
However, if you had a new domain, you could direct all your offline traffic (and only offline traffic) to this new domain. Therefore, whoever finds it you can be fairly certain that it is a result of your offline advertising. I suppose the downside of this is that it can detract from building the 44-16 brand itself.
Another option would be to develop the new domain as a free, all-encompossing learning resource for film and production editors. Develop a set of tutorials and best practice, but then invite other industry people to submit their own user generated content for use. Maintain a level of impartiality, but by no means hide the 44-16 ownership. You could even throw in a forum, should there be a demand for one.
To me, I think it would be quite valuable as a business to say that not only do we have a film and production company, but we're also the gatekeepers to one of the largest film and production communities in the UK, partnering professionals together around the country.
Those are just a couple ideas - the main SEO consideration needs to be that the additional website could function as a website in its own right. It has its own content, its own approach, almost its own primary focus, with the secondary of course to help 44 16. If it looks too much like a feeder site that's just linking in to the main domain for SEO benefit, it could be dangerous.
Hope this helps.
PS - Awesome cat.