German distrib recently received funding infusion
German distributor Senator Entertainment has entered into a joint venture with Relativity Media that will see Senator distribute all of Relativity’s future films in Germany.Additionally, Relativity has become a significant shareholder in Senator. Together the two aim to build Senator into one of the largest independent distributors in the German market. Senator was recently recapitalized by Sapinda Holding, a global investment group headquartered in Amsterdam, with offices in London, Berlin and five other countries. Senator will distribute Relativity’s upcoming movies including “Hunter Killer,” “Safe Haven” and “Afterburn.” Sapinda is also looking to provide capital to Relativity for future strategic initiatives. “Senator has a long history within the competitive German marketplace,” said Relativity co-prexy Tucker Tooley. “With their new financial commitment from Sapinda, we are optimistic about the future of the business. This new venture is much more than an output deal, it’s a long-term strategic partnership.” “The relationship sets a new starting point for our company,” added Senator’s CEO Helge Sasse. “With Relativity providing its top-of-the-line films to us, Senator will be able to strengthen and expand its position in the German film market on all levels.” With the new agreement, Relativity now has an output deal in every major territory with the exception of Japan, Korea and Italy.