Kinowelt bows Web, exhib plans

New channel proposal sends stock plummeting

BERLIN — German film powerhouse Kinowelt Medien unveiled last week firmer plans to expand its television, cineplex operation, Internet and sports rights marketing businesses and announced an acquisition in television production.

Company founder and topper Rainer Koelmel said he still wants to set up a commercial or digital channel, a notion that spooked investors in January and drove the share down 23% in one day.

Koelmel said cable network availability would be key in determining whether a 2001 start date is possible and added that a channel could be converted into a Web portal when TV/Web convergence becomes a reality in Germany.

Chief financial officer Eduard Unzeitig put the startup costs of a Kinowelt station at DM80 million ($39 million), lower than some analysts’ expectations.

Pondering plex push

Kinowelt is again mulling a serious commitment to cinema construction and operation as another outlet for content, Koelmel said, but he did not provide further details.

Company announced the purchase of a 26% stake in Hamburg-based production house Trebitsch, 10% from CLT/Ufa and 16% from board member Katharina Trebitsch. The Euro broadcaster had held 74% and Trebitsch 26%. The move gives Kinowelt more muscle in TV production, Koelmel said.

More Film

  • Les Arcs Film Festival

    Les Arcs European Film Festival's Industry Village Kicks Off with Strong Roster

    BERLIN — German film powerhouse Kinowelt Medien unveiled last week firmer plans to expand its television, cineplex operation, Internet and sports rights marketing businesses and announced an acquisition in television production. Company founder and topper Rainer Koelmel said he still wants to set up a commercial or digital channel, a notion that spooked investors in […]

  • Star Wars: The Last Jedi

    Box Office: 'Star Wars: The Last Jedi' Rockets to $215 Million Opening Weekend

    BERLIN — German film powerhouse Kinowelt Medien unveiled last week firmer plans to expand its television, cineplex operation, Internet and sports rights marketing businesses and announced an acquisition in television production. Company founder and topper Rainer Koelmel said he still wants to set up a commercial or digital channel, a notion that spooked investors in […]

  • Disney-Fox Deal Sets Up Scramble for

    Disney-Fox Deal Unleashes Flood of Free-Agent Executives, Talent

    BERLIN — German film powerhouse Kinowelt Medien unveiled last week firmer plans to expand its television, cineplex operation, Internet and sports rights marketing businesses and announced an acquisition in television production. Company founder and topper Rainer Koelmel said he still wants to set up a commercial or digital channel, a notion that spooked investors in […]

  • Anita Hill

    Anita Hill Chairs Hollywood Anti-Sexual Harassment Commission Formed by Top Execs

    BERLIN — German film powerhouse Kinowelt Medien unveiled last week firmer plans to expand its television, cineplex operation, Internet and sports rights marketing businesses and announced an acquisition in television production. Company founder and topper Rainer Koelmel said he still wants to set up a commercial or digital channel, a notion that spooked investors in […]

  • Warren Beatty

    Arnon Milchan Sues Warren Beatty Over 'Rules Don't Apply' Flop

    BERLIN — German film powerhouse Kinowelt Medien unveiled last week firmer plans to expand its television, cineplex operation, Internet and sports rights marketing businesses and announced an acquisition in television production. Company founder and topper Rainer Koelmel said he still wants to set up a commercial or digital channel, a notion that spooked investors in […]

  • Oscar Isaac Addams Family

    Oscar Isaac in Talks to Voice Gomez Addams in Animated 'Addams Family' Movie

    BERLIN — German film powerhouse Kinowelt Medien unveiled last week firmer plans to expand its television, cineplex operation, Internet and sports rights marketing businesses and announced an acquisition in television production. Company founder and topper Rainer Koelmel said he still wants to set up a commercial or digital channel, a notion that spooked investors in […]

  • Jennifer Lawrence

    Publicists for Jennifer Lawrence, Daisy Ridley, Amy Adams Form New Firm

    BERLIN — German film powerhouse Kinowelt Medien unveiled last week firmer plans to expand its television, cineplex operation, Internet and sports rights marketing businesses and announced an acquisition in television production. Company founder and topper Rainer Koelmel said he still wants to set up a commercial or digital channel, a notion that spooked investors in […]

More From Our Brands

Access exclusive content