German showbizzers have eye on expansion coin
BERLIN — German entertainment companies continue to go public in an effort to expand their resources.Advanced Medien AG, which controls the rights to more than 1,000 films, was listed on Frankfurt’s Neuer Markt last week. The company’s shares were initially issued at euro 5.60 ($5.99). Capital generated by the listing will be used to expand the company’s business in film licensing, distribution, video and DVD sales and co-production and co-financing of bigscreen projects, according to officials. The Oberhaching-based company is expecting a turnover of DM 58.5 million ($30 million) this year — an increase of 270% over 1998. In addition, post-production outfit Das Werk is set to get listed on the Neuer Markt when it goes public on Aug. 25. The Munich-based company has added finishing touches to popular German pics like “Run Lola Run” and “The Comedian Harmonists.” Alliance formed Earlier this year Das Werk joined France’s Mikros Image, Italy’s Blue Gold and ACE from Belgium in forming the Max European Post Production Alliance. The European group wants to keep post production work on this side of the Atlantic and hopes to attract more film projects to Europe. Das Werk will be making 2.5 million shares available. Prices will not be made public until Aug. 21, although the company is holding a press conference in Frankfurt on Aug. 16 to announce further details.