Italian distrib likely to release more local, co-pro pix
Italy’s Mondo Home Entertainment has acquired full ownership of distrib Moviemax Italia, in a move that will give the prominent distribbery more autonomy.
After branching out into theatrical distribution in 2005, Mondo Home Entertainment has now purchased the 49% share in Moviemax that it did not own for €3.5 million ($5 million) from RG Holding and Finanziaria Cinema, which each held a 24.5% interest.
Moviemax, Italy’s fifth largest distrib, is known for releasing Hollywood genre movies, most recently “Saw 3D: The Final Chapter” and “Scream 4.” Upcoming releases include Sarah Jessica Parker romantic comedy “I Don’t Know How She Does It,” Steven Soderbergh’s “Knock Out” and local laffer “Box Office 3D” by Italo comic Ezio Greggio.
Local pics and international co-productions are now expected to play a greater role in Moviemax’s new business model.
“Finally we are able to set free all our ideas and use all the energies we have at our disposal to consolidate our traditional activities and prepare to seize new opportunities,” said Mondo Home Entertainment CEO Guglielmo Marchetti.