Babelsberg buys Kirch post house

World Brief

Studio Babelsberg has expanded its operations to Munich, where it has snapped up the TaurusMediaTechnik post-production facilities from the bankrupt Kirch Group.

Although TMT was forced into bankruptcy along with its parent in 2002, company has been operating profitably, said Babelsberg topper Carl Woebcken, adding that the new facility would generate synergies with Babelsberg’s post-production studio near Berlin.

Babelsberg is raising E4.5 million ($5.5 million) through a capital increase to cover the acquisition and investment costs.

Company said the newly dubbed TMT Studio Babelsberg Postprodution would retain its 48 employees.

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