German home entertainment company VCL Film and Media has adjusted its earnings forecast due to a delay in closing a deal with a U.S. major to become its new partner.
VCL anticipated sales of $28 million to $33 million for 2003 but has lowered expectations to $20 million. New figure was contingent upon successfully final-izing a deal with the new partner, believed to be MGM. VCL has already signed a commitment contract with Comerica Bank in Los Angeles, it said.
Company expects to generate some $3.5 million from the exploitation of “Terminator 3: Rise of the Machines.”