Premila Hoon to act as strategic advisor
MADRID — New York-based Regal Entertainment and VCL Communications notified German stock market regulators late Monday that Regal has taken a substantial majority stake in VCL Communications.
VCL Communications is the operating company of veteran German indie film distributor VCL. Negotiations are under way for Adi Cohen’s Regal to take a controlling stake in VCL holding company VCL Film and Medien.
Datty Ruth will remain managing director of VCL Communications. Cohen and Spanish producer Jordi Rediu look likely to become co-managing directors, Ruth said.
The Regal-VCL deal comes as Regal, which is not connected with the U.S. exhib chain, has appointed Entertainment Capital Advisers, a London-based media consultancy firm headed by Premila Hoon, as its strategic adviser. Hoon advised on the Regal-VCL pact.
Per Ruth, VCL will use the capital injection to return to theatrical distribution — its previous theatrical release was Jackie Chan starrer “The Forbidden Kingdom” in April — and pump up its presence in specialist interest DVD distribution, including fitness, health and lifestyle titles.