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Lola gets cash boost

Admira OK's capital increase for film producer

MADRID — Telefonica-owned film and TV conglom Admira and top Spanish producer Andres Vicente Gomez have approved a 18.0 million euros ($15.8 million) capital increase for top Spanish movie producer Lolafilms. Move capitalizes Lola for ongoing production this year after it suffered losses in 2001 from underperfing English-lingo pics.

Admira owns 70% of Lolafilms, Gomez and associates 30%.

Shareholders also appointed Emilio Gilolmo, a former director general of Spain’s Banco Urquijo, as non-executive chairman of Lolafilms. Andres Vicente Gomez remains its CEO and day-to-day numero uno.

Lola board members include Admira managing director Ele Juarez, which means that Spain’s two most experienced international biz execs –Juarez and Gomez — will team at Lolafilms.

Lola’s slate for 2002 includes Fernando Trueba’s “Shanghai Spell,” Luis Llosa’s “The Feast of the Goat” and Bigas Luna’s “4.”

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