German company exceeds expectations
BERLIN — Advanced Medien has posted better than expected results for 1999, surpassing estimated figures.
Company revenues were at DM 65.7 million ($33 million), up nearly $25 million since 1998. While Advanced Medien posted losses of $433,000 in 1998, profits reached $3 million last year.
In the past several months, the Munich-based film financier and rights broker has acquired German-lingo rights to all films produced by Burbank-based U.F.O. as well as an action-pic package from British producer Jeremy Thomas.
The group recently sold a TV rights package, which includes “Bless the Child” with Kim Basinger, to European heavyweight CLT/Ufa and also signed a deal with MGM in January to co-finance “Ghost World.”