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ots Ad hoc-Service: Intertainment AG
Intertainment sells free-TV rights to Berlusconi\047s Mediaset
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Munich (ots Ad hoc-Service) -
Transactions concluded in Italy worth $20 million
The Munich media corporation Intertainment AG has entered into a strategic partnership with Silvio Berlusconi's Mediaset group. As the first step provided for in the partnership agreement, Intertainment has sold Mediaset the Italian free-TV rights to six feature films. Intertainment, listed on the New Market of the German stock exchange, also sold the Italian exploitation rights for the films "3000 Miles To Graceland" starring Kevin Costner and "Things You Can Tell Just By Looking At Her" (Cameron Diaz).
The business volume of the completed transactions totals approximately $20 Million.
The partnership agreement gives Mediaset Italian free-TV first broadcast rights for the major American productions "Battlefield Earth" starring John Travolta, "Art Of War" (Wesley Snipes and Donald Sutherland), "Get Carter" featuring Sylvester Stallone, "The Pledge" (Jack Nicholson), "The Whole Shebang" (Bridget Fonda) and "Angel Eyes" with Jennifer Lopez.
Intertainment acquired the rights to these films last year as a part of two comprehensive contractual agreements. The contracts guarantee Intertainment the entire European rights to some 70 films from the renowned American production companies Franchise Pictures and Original Voices. In this context, the current free-TV contract under the strategic Mediaset partnership has opened the door for future free-TV contracts with the Italian media group covering additional Intertainment films.
Since Intertainment owns all exploitation rights, the Munich corporation expects revenues in Italy significantly higher than the $20 million generated by the present agreement. Theatrical release, video and pay-TV offer significantly larger earnings potentials than the general free-TV marketing rights.
At the end of February Intertainment sold Spanish market rights worth a total of $22.4 million to Manga Films. Additional deals in other European countries are going to follow.
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 its 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.
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Original-Content von: Intertainment AG, übermittelt durch news aktuell