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.
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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.