German license trader Advanced Medien has acquired in-flight entertainment group Atlas Air Film+Media Service and its Los Angeles subsid Atlas Air Entertainment Concepts.
With revenue of around €20 million ($24 million) last year, Atlas Air is one of the largest providers of in-flight entertainment, serving 24 airlines. Company used to be part of Kinowelt Medien before it filed for bankruptcy protection in 2001.
Advanced said the takeover would be financed through a capital increase, completed in April, that raised more than $1 million. It declined to say how much it was paying for Atlas.