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Kirch pays $21 million for pic package

Deal includes 'Traffic,' 'Gangs of New York'

BERLIN — German licensing company Splendid Medien has sold a package of 22 feature films for free and pay TV to KirchMedia for a reported 23.3 million euros ($21 million).

The breakthrough sale in the tough German market includes “Traffic,” “Gangs of New York,” “Dr. T & The Women” and “Cutaway.”

KirchMedia is the main subsidiary of the Kirch Group.

Splendid Medien holds a 49% stake in U.S. indie Initial Entertainment Group. The company is aiming for sales of $46 million this year.

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