BERLIN — Swiss media group Highlight Communications, which is in the process of taking over leading German producer Constantin Film, posted a 14% rise in first quarter net profits to CHF4.9 million ($3.8 million) Thursday.
Highlight also reported a 16% increase in revenue to $33 million.
A stable but minor player in the German-speaking home entertainment and theatrical distribution markets, company has caused a ruckus in Munich with its attempt to take over Constantin, which has gone to red alert in an attempt to block the move.
While Constantin execs have been reviewing all available options to keep Highlight at bay, a Highlight takeover appears inevitable.
Highlight, which is listed in the German stock market’s SDAX segment for small companies, purchased a minority stake in Constantin last month from TV license trader EM.TV, boosting its total holding in the group to more than 41%. It’s now in the process of making an offer to Constantin’s minority shareholders for the rest of the company stock.
Highlight has said it is seeking a peaceful resolution and is striving to come to an agreement with Constantin. Constantin’s founder and de facto topper Bernd Eichinger, who owns 25% of the group, is said to be wary of losing his independence at the firm and is intent on retaining equal footing with fellow shareholders.