You will be redirected back to your article in seconds

Advanced swings to loss

German company's revs sink to $7.57 mil

LONDON — German licensing player Advanced Medien has posted first-half losses of 8.45 million euros ($7.69 million), compared with a profit of $1.10 million for the same period last year.

Company revenues sank to $7.57 million from $17.34 million. Advanced blamed legal costs from a lawsuit with an unnamed licensing company as well as writedowns.

Advanced is facing more legal costs after director Wolfgang Petersen filed suit earlier this month for breach of contract. Advanced, which has a deal with Petersen to bankroll joint production company Red Cliff Prods., denies the allegations.

Advanced maintains it still has 180 days to pay the remaining $2 million on a $5 million letter of credit it had agreed to provide. Petersen asserts that development costs of $1.3 million also are due, but Advanced claims they already have been paid.

More Biz

  • Al Franken Kathy Griffin

    Al Franken Cut from PBS' David Letterman Special

    LONDON — German licensing player Advanced Medien has posted first-half losses of 8.45 million euros ($7.69 million), compared with a profit of $1.10 million for the same period last year. Company revenues sank to $7.57 million from $17.34 million. Advanced blamed legal costs from a lawsuit with an unnamed licensing company as well as writedowns. […]

  • Russell Simmons, Bret RatnerVANITY FAIR OSCAR

    Brett Ratner and Russell Simmons Accused of Working Together to Carry Out Sexual Misconduct

    LONDON — German licensing player Advanced Medien has posted first-half losses of 8.45 million euros ($7.69 million), compared with a profit of $1.10 million for the same period last year. Company revenues sank to $7.57 million from $17.34 million. Advanced blamed legal costs from a lawsuit with an unnamed licensing company as well as writedowns. […]

  • get out Oscar Race

    'Get Out' Awards Category Dilemma: Film Defies Easy Labels, Cast Says

    LONDON — German licensing player Advanced Medien has posted first-half losses of 8.45 million euros ($7.69 million), compared with a profit of $1.10 million for the same period last year. Company revenues sank to $7.57 million from $17.34 million. Advanced blamed legal costs from a lawsuit with an unnamed licensing company as well as writedowns. […]

  • David Hoberman and Todd Lieberman Mandeville

    Media Access Awards Honor Hollywood for Depicting People With Disabilities

    LONDON — German licensing player Advanced Medien has posted first-half losses of 8.45 million euros ($7.69 million), compared with a profit of $1.10 million for the same period last year. Company revenues sank to $7.57 million from $17.34 million. Advanced blamed legal costs from a lawsuit with an unnamed licensing company as well as writedowns. […]

  • This, photo shows the 21st Century

    Sony Pictures Joins 21st Century Fox Hunt as Deal Talk Spreads Across Biz

    LONDON — German licensing player Advanced Medien has posted first-half losses of 8.45 million euros ($7.69 million), compared with a profit of $1.10 million for the same period last year. Company revenues sank to $7.57 million from $17.34 million. Advanced blamed legal costs from a lawsuit with an unnamed licensing company as well as writedowns. […]

  • India’s PVR Buys Stake in iPic

    India’s PVR Buys Stake in iPic U.S. Luxury Theater Chain

    LONDON — German licensing player Advanced Medien has posted first-half losses of 8.45 million euros ($7.69 million), compared with a profit of $1.10 million for the same period last year. Company revenues sank to $7.57 million from $17.34 million. Advanced blamed legal costs from a lawsuit with an unnamed licensing company as well as writedowns. […]

More From Our Brands

Access exclusive content