Frankfurt-based co. in talks for 12%-17% holding
BERLIN — German-American entertainment group In-Motion, which majority owns L.A.-based Myriad Pictures, is looking to take a stake in Teutonic music TV web Viva.
The Frankfurt-based In-Motion is reportedly in talks with the music broadcaster for a 12% to 17% holding. Company declined to comment.
Move would complement In-Motion’s recent expansion of the music side of its business, which now includes the Sherman Oaks-based label Trauma Records as well as the German subsid of U.K. dance label, Ministry of Sound.
Earlier this month Viva and AOL Time Warner unveiled plans to revamp the broadcaster’s troubled AC (adult contemporary) channel Viva2 and transform it into an interactive music outlet. Warner Music Germany owns 19% of Viva.
Meanwhile, In-Motion has pressed ahead on the film side with one of the largest presences at this week’s London Screenings mart.
One of the few Neuer Markt players to still be expanding, In-Motion is in talks to take on several of the Neuer Markt film deals held by other companies, as well as joining the planned Studio Babelsberg film funds.
“We are talking to a lot of funds,” In-Motion head Philip von Alvensleben told Daily Variety. “We love the new ownership (at Babelsberg) which comes with a greater appreciation of the American market. And we would like to produce in Germany.”
Von Alvensleben declined to comment on rumors that the company is in talks towards financing future Francis Ford Coppola projects and other VCL deals.