Financial Briefs

VCL Film + Medien AG is expecting revenues of DM 90 million ($47 million) and profits before interest, taxes and depreciation (EBITDA), of $17 million this year.

Company officials say business in DVD and license-trading has been especially fruitful, and are therefore counting on an increase in revenues in the coming fiscal year.

In addition to video and DVD distribution, Munich-based VCL is also involved in film production and licensing.

* * *

MGM Grand Inc. announced that Alex Yemenidjian will resign as prexy of the company, effective Dec. 30. Yemenidjian will remain a member of the board of directors and its executive committee. He was named chairman and CEO of Metro-Goldwyn-Mayer Inc. in April. James J. Murren will take over Yem-enidjian’s former position in MGM’s hotel and gaming branch.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety