Loan will provide ongoing activities, pre-prod'n financing
BERLIN — German film group Internationalmedia has expanded a financing agreement with an unnamed U.S. investment group, increasing its existing credit line to $30 million.
Deal, announced Saturday, boosts company’s liquidity and flexibility and expands a credit agreement inked in April with the investment group, the company said.
Internationalmedia, parent of L.A.-based Intermedia, has been in the red due to writedowns and a lack of U.S. releases so far this year. Renny Harlin’s “Mindhunters” has hit cinemas in some overseas territories, but has not sparked much interest at the box office.
Loan will provide financing for ongoing activities and pre-production financing for future projects.
Upcoming Internationalmedia projects include “Suspect Zero” and Oliver Stone’s “Alexander.”
Intermedia is developing Billy Ray’s “The 11th Hour” with Universal Pictures and “Skeletons of the Sahara” with DreamWorks.