Company owns Intermedia

BERLIN — Martin Schuermann has ankled as CEO of IM Internationalmedia, the Munich-based parent of Intermedia, the company announced Wednesday.

Schuermann, who is departing due to personal reasons and with immediate effect, will remain managing director of Intermedia Film Equities in Los Angeles.

Schuermann, a former managing director of the L.A.-based CLT-UFA (a Bertelsmann TV and movie subsidiary), replaced Internationalmedia topper Moritz Borman in 2005. A change in German law that year banned the use of tax sheltering film funds, Internationalmedia’s primary source for the financing for most of its films, including Oliver Stone’s “Alexander,” “Terminator 2: Rise of the Machines” and “Basic Instinct 2.”

Internationalmedia chief financial officer Sascha Konzack will oversee operations on his own until the company appoints a successor.

Company’s current slate includes Richard Gere starrer “Spring Break in Bosnia,” horror pic “One Missed Call” and British comedy “Magicians.”

In April, Internationalmedia launched IM Global, an international sales and distribution company headed by Stuart Ford.

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