COLOGNE — Broadcasting group ProSiebenSat.1 Media has ponied up S17.3 million ($17.4 million) for 16 movies from Splendid Media.
The deal comes as ProSiebenSat.1’s bankrupt parent, Kirch Media, seeks to boost film sales to the broadcaster.
Pics include “Kate & Leopold,” starring Meg Ryan and Hugh Jackman; “Desert Saints” with Kiefer Sutherland; “Narc,” starring Ray Liotta; Alec Baldwin’s “The Devil and Daniel Webster,” with Jennifer Love Hewitt and Anthony Hopkins; and David Hasselhoff starrer “Layover.”
All of the films were produced by L.A.-based Splendid and handled domestically by company’s Cologne-based distributor Splendid Film.
ProSiebenSat.1 also announced it will issue $200 million in high-interest seven-year bonds via Deutsche Bank for the international market.
ProSiebenSat.1 chairman Urs Rohner said the bond issue would optimize the group’s finances in the long term and secure the group’s overall financial planning.
Meanwhile, on Monday another Kirch subsid filed for bankruptcy. Post-production outfit TaurusMediaTechnik will be managed by insolvency administrator Michael Jaffe, a member of Kirch Media’s interim insolvency management. TaurusMediaTechnik, which employs 370 workers, also controls the vast library of the devastated Kirch empire.