Deal worth $250 million
Eureka, the nascent entertainment alliance between Germany’s Kirch Group and Italy’s Mediaset, has signed a Euro distrib deal with L.A.-based Hyde Park Entertainment, a producing group headed by Ashok Amritraj and David Hoberman.Under the agreement, Eureka will control all continental European rights to Hyde Park productions (Disney and MGM, Hyde Park’s two domestic studio partners, will have U.K. rights). Hyde Park’s business plan calls for it to produce up to six pics a year with budgets ranging from $40 million to $80 million. Given the normally high value attributed to European pay TV rights, that could make the Eureka contribution worth as much as $250 million over the course of the five-year deal. Hyde Park sits alongside Eureka’s other U.S. deals, which include Robert Redford’s Wildwood Enterprises and Spyglass Entertainment. Eureka is also involved in the sales of licenses, TV advertising and productions. In addition to Kirch and Mediaset, Kingdom Entertainment, the company formed by Michael Jackson and Saudi billionaire Prince al-Waleed bin Talal, also holds a stake in the alliance, as does Paris-based Quinta Communications. Eureka’s establishment was greenlit Aug. 3 by the EU Commission.