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EC greenlights Euro venture Eureka

Biz focus on film

BERLIN — The European Commission has given the greenlight to the Kirch Group and Mediaset joint venture Eureka.

Formed on the back of select assets from both companies, Eureka will concentrate on production, broadcasting, advertising and rights distribution.

The main thrust of the venture so far has been in the feature film arena, with the new partners planning to meet Hollywood on an equal footing. Eureka hopes to participate in up to 30 U.S. feature film co-productions a year in the $70 million budget range. Eureka is already cooperating with Robert Redford’s Wildwood Enterprises on a number of projects.

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