Company's arm to concentrate on film, video markets
BERLIN — Kinowelt Medien has established a new subsidiary to head the company’s expansion eastward.The new Berlin-based Kinowelt International will concentrate on the film and video markets of Poland, Hungary and the Czech Republic. Kinowelt says it is looking for local partners in those areas who will handle distribution of bigscreen pics, video and DVD as well as the sale of TV rights to broadcasters. The company has already signed a deal with Budapest Film, one of Hungary’s biggest entertainment outfits, to form a joint film and video distrib. Kinowelt is expecting revenues of DM20 million ($10.8 million) next year and a steady growth rate of 20% over the next five years.