Schuermann garners 2 million shares from Bormann
BERLIN — Martin Schuermann, CEO of Intermedia parent IM Internationalmedia, has acquired a 6.3% share in the company from former topper Moritz Bormann.
The 2 million shares Schuermann obtained are approximately half of Bormann’s holding, making them the company’s biggest shareholders.
IM said Wednesday it was planning further capital measures and called Schuermann’s acquisition a “commitment toward the company and its new strategic direction.”
Schuermann, who replaced Bormann in May, has sought to move the company toward less risky projects, including lower-budgeted genre movies and TV productions.
In addition to a multipic co-production pact with Kadokawa Pictures that includes thriller “One Missed Call,” company is co-producing a new TV series with Jay Firestone based on the FBI profiler pic “Mindhunters” as well as an action pic with Cologne, Germany-based producer Action Concept.