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ots Ad hoc-Service: Intertainment AG
Intertainment AG enters into 22 million dollar deal with Spain European strategy to pay off
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Munich (ots Ad hoc-Service) -The Munich-based media corporation Intertainment AG entered into a 22.4 million US-dollar Free-TV deal with the independent Spanish distributor Manga Films at AFM (American Film Markets). Manga Films, in which the Spanish media giant Catalunya Communicacio is to acquire an interest, will purchase from Intertainment the Spanish first exploitation licenses for Free-TV. The film package includes productions to be released within the next twelve months at the cinema or on video, such as inter alia "Art of War" (Wesley Snipes), "Get Carter" (Sylvester Stallone), "Battlefield Earth" (John Travolta) and "The Pledge" (Jack Nicholson).
In addition to the Free-TV and all rights revenues, which in Spain alone amount to 22.4 million US-dollars for the first license, there will be further revenues from the cinema as well as video distribution and sales and the granting of Pay-TV licenses. Simultaneously, Intertainment is actually negotiating the granting of the German, French, Italian, English, Scandinavian and East European FreeTV licenses for the same films.
Rüdiger Baeres, Chairman of Intertainment AG: "This transaction proves that the Intertainment strategy of marketing our license rights on a European level is indeed the right policy. In addition to the cinema, video and Pay-TV distribution via Warner Bros and20th Century Fox, we now, step-by-step, will grant Free-TV licenses to our films all over Europe." The deal with Manga Films is the first big Free-TV transaction in a major European area resulting from the co-production and co-financing agreement with Franchise Pictures and Original Voices.
"The Whole Nine Yards" still number one
The Intertainment production "The Whole Nine Yards" is still number one of the US movie charts. On the second weekend following the impressive cinema release in the United States the action comedy starring Bruce Willis successfully held its ground against the new releases "Wonder Boys" with Michael Douglas and "Reindeer Games" with Ben Affleck.
Rüdiger Baeres adds: "Our first major highlight "The Whole Nine Yards" already proved the quality of the film rights acquired by us. The success of the film starring Bruce Willis will have a positive impact on our revenues through all levels of exploitation. In addition, it shows the high degree of marketability of all our film packages - our content."
Intertainment Corporate Information:
Munich-based Intertainment AG is a media corporation specializing in the licensing and merchandising of feature films. Intertainment AG is listed on the Neuer Markt of the Frankfurt stock exchange. Based on preliminary figures for the 1999 fiscal year, the corporation increased revenue by 81% to 53 million marks, representing an increase in conventional business activities of approx. 115% to 19 million marks. For the current fiscal year, Intertainment expects revenues of approx. 290 million marks, and an overall operating result of more than 76 million marks. This increase in sales stems largely from a European-wide expansion of business activities.
For more information contact: Intertainment AG Claudia Wilmans Widenmayerstrasse 49 80538 Munich Tel.: +49 / 89 /21 69 9-0 Fax: +49 / 89 / 21 69 9-11 e-mail: email@example.com
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Original-Content von: Intertainment AG, übermittelt durch news aktuell