2004 revenues total E185 million
COLOGNE — German film group Internationalmedia ended 2004 in the red, despite making a profit in the last quarter thanks to Oliver Stone’s “Alexander.”
Revenues in 2004 totaled E185 million ($248 million), down from the previous year’s $332 million partly due to the less favorable euro-dollar exchange rate.
However, $134 million of 2004’s revs was reported in the fourth quarter, according to preliminary figures.
Operating loss was on a par with 2003 at $25.5 million, with writeoffs for film development reaching $27.4 million. Company achieved an operating as well as a net profit in the fourth quarter, but did not give details.
Liquidity at year’s end was $43 million, up from $15.5 million, and that will be used mainly for new projects. Presently in development is action pic “Adrenalin,” to be helmed by Simon Crane.
Earlier this week, Internationalmedia announced that subsid Intermedia has signed with Columbia to finance and distribute upcoming Robin Williams starrer “RV.” Family comedy is produced by Red Wagon’s Douglas Wick and Lucy Fisher and directed by Barry Sonnenfeld.
Internationalmedia is also involved in “Basic Instinct 2.”