German media co. looking for cash to expand
BERLIN — Splendid Medien has joined the IPO bandwagon and is heading for the stock market in October.Like so many other German media companies of late, the Cologne-based licensing and production group is hoping for an injection of capital to boost its film library (currently at 400 titles), acquisitions and overall marketing. In addition to a 49% stake in the Los Angeles-based Initial Entertainment Group, Splendid also owns Ascot Medien, Splendid Film and dubbing studios Splendid Synchron. The group had revenue of $16 million last year and had gross profits of $10.7 million.
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