All assets to be transferred to new company
BERLIN — German video king turned licensing company VCL Film + Medien has acquired Scandi film outfit Scanbox Media for 22 million kroners ($2.7 million), paid mostly in shares.
It’s VCL’s first major distribution deal since the company indicated this summer it was aiming to set up distribution across Europe. Scanbox brings with it distribution and production, and an inhouse sales infrastructure.
Add to that a deal, also signed last week, under which London-based Capitol Films will handle recent VCL buys, the next three Woody Allen pics and a slate of films being developed by Francis Ford Coppola for MGM.
Copenhagen-based Scanbox Entertainment informed the Copenhagen Stock Exchange on Thursday that its entire assets would be transferred to a new company, Scanbox Media, which VCL will take over.
VCL aspires to “become Europe’s leading independent distributor, and we are firmly based as a significant player in Scandinavia, both in video and theatrical,” Scanbox Entertainment VP of acquisitions and sales Jorgen Kristiansen told Daily Variety.
“The agreement with VCL puts shareholders as well as creditors in the most favorable position,” said chairman of the board Peter Vengler Jorgensen.