Cash infusion to fuel prod'n output

ROME — U.S. investment firm State Street Global Investments has bought a 25% stake in Italo TV production company Lux Vide.

Restructure is intended to boost the international profile of the religious skein specialist, maker of CBS mini “Pope John Paul II.”

The stake was sold by Lux’s founders, the Bernabei family, and gives the Rome-based company a E15 million ($18.7 million) cash infusion as well as a new shareholder configuration.

“Lux can now further develop its production capacity and meet the challenges imposed by the new digital technology,” said Lux Vide VP Matilde Bernabei.

The Bernabei family holds a 44.3% stake in Lux; other shareholders include Franco-Tunisian entrepreneur Tarak Ben Ammar’s Quinta Communications (8.7%), Italo attorney Vittorio Caporale’s Video Delta (10.7%) and other Italo investors.

Indicative of Lux’s itch to broaden its scope is the $32 million, four-part “War and Peace” adaptation skedded to start shooting in Lithuania next month. Other projects in the pipeline include historical epic “Last Days at Pompeii” for pubcaster RAI.

Want Entertainment News First? Sign up for Variety Alerts and Newsletters!
Post A Comment 0