You will be redirected back to your article in seconds

Kinowelt ups voting rights

Teutonic distrib increases stake in Intertainment

BERLIN — Following its 50% takeover of insolvent distrib Intertainment earlier this year, German producer-distrib Kinowelt has increased its voting rights in the company from 11% to 30%.

Kinowelt acquired the remaining voting rights from former topper Rudiger Baeres, who sold his majority stake to Kinowelt in May. Kinowelt is now Intertainment’s biggest single shareholder.

Intertainment went belly up this year after failing to recoup $122 million in damages from Elie Samaha and Franchise Pictures following a 2004 legal victory in U.S. federal court.

In August, Intertainment struck a $3 million settlement with Samaha and production shingle Sidonian Holdings. Samaha and Sidonian (formerly Glickson Investments Intl.) have agreed to pay the money in two installments by mid-December.

The U.S. court found Samaha and Franchise guilty of defrauding the once high-flying rights trader into paying wildly inflated budgets on a slate of films that included “Get Carter” and “The Whole Nine Yards.”

Kinowelt, which is enjoying huge box office success with soccer World Cup docu “Germany — A Summer Fairy Tale,” last week announced the takeover of Cologne-based arthouse distrib Pegasos.

More Scene

  • Variety Hitmakers Brunch

    Kendrick Lamar, DJ Khaled, Hailee Steinfeld Honored at Inaugural Variety Hitmakers Event

    BERLIN — Following its 50% takeover of insolvent distrib Intertainment earlier this year, German producer-distrib Kinowelt has increased its voting rights in the company from 11% to 30%. Kinowelt acquired the remaining voting rights from former topper Rudiger Baeres, who sold his majority stake to Kinowelt in May. Kinowelt is now Intertainment’s biggest single shareholder. […]

  • The 'Runaways' Praise Series' Diversity at

    'Marvel's Runaways' Stars Praise Series' Diversity at Hulu Premiere

    BERLIN — Following its 50% takeover of insolvent distrib Intertainment earlier this year, German producer-distrib Kinowelt has increased its voting rights in the company from 11% to 30%. Kinowelt acquired the remaining voting rights from former topper Rudiger Baeres, who sold his majority stake to Kinowelt in May. Kinowelt is now Intertainment’s biggest single shareholder. […]

  • 'Molly's Game' film premiere, Arrivals, AFI

    Jessica Chastain Praises Bravery of Sexual Assault Victims at 'Molly's Game' Premiere, AFI Fest Tribute to Aaron Sorkin

    BERLIN — Following its 50% takeover of insolvent distrib Intertainment earlier this year, German producer-distrib Kinowelt has increased its voting rights in the company from 11% to 30%. Kinowelt acquired the remaining voting rights from former topper Rudiger Baeres, who sold his majority stake to Kinowelt in May. Kinowelt is now Intertainment’s biggest single shareholder. […]

  • 'The Shape of Water' film premiere

    Guillermo del Toro Calls 'The Shape of Water' a New Type of 'Beauty and the Beast'

    BERLIN — Following its 50% takeover of insolvent distrib Intertainment earlier this year, German producer-distrib Kinowelt has increased its voting rights in the company from 11% to 30%. Kinowelt acquired the remaining voting rights from former topper Rudiger Baeres, who sold his majority stake to Kinowelt in May. Kinowelt is now Intertainment’s biggest single shareholder. […]

  • HFPA and InStyle celebrate Golden Globe

    HFPA President Meher Tatna, Simone Garcia Johnson Celebrate New 'Inclusive' Golden Globe Ambassador Title

    BERLIN — Following its 50% takeover of insolvent distrib Intertainment earlier this year, German producer-distrib Kinowelt has increased its voting rights in the company from 11% to 30%. Kinowelt acquired the remaining voting rights from former topper Rudiger Baeres, who sold his majority stake to Kinowelt in May. Kinowelt is now Intertainment’s biggest single shareholder. […]

  • Girls Inc. hosts the 2017 LA

    Warner Bros. TV Exec Calls for End to Sexual Harassment: 'Enough Is Enough'

    BERLIN — Following its 50% takeover of insolvent distrib Intertainment earlier this year, German producer-distrib Kinowelt has increased its voting rights in the company from 11% to 30%. Kinowelt acquired the remaining voting rights from former topper Rudiger Baeres, who sold his majority stake to Kinowelt in May. Kinowelt is now Intertainment’s biggest single shareholder. […]

  • Wonder premiere

    'Wonder' Premiere Celebrates Book's Six-Year Journey to Big Screen, 'Once-in-a-Lifetime Actor' Jacob Tremblay

    BERLIN — Following its 50% takeover of insolvent distrib Intertainment earlier this year, German producer-distrib Kinowelt has increased its voting rights in the company from 11% to 30%. Kinowelt acquired the remaining voting rights from former topper Rudiger Baeres, who sold his majority stake to Kinowelt in May. Kinowelt is now Intertainment’s biggest single shareholder. […]

More From Our Brands

Access exclusive content