This article clarified June 25, 2000 BERLIN — German production company H5B5 has acquired a 25% stake in Gotham-based distrib Unapix Entertainment as part of a capital increase that will see 2 million new shares issued for Unapix, which is listed on the New York Stock Ex-change as UPX.
For H5B5, which was founded in 1997, the move is a step toward securing distribution of its productions in the U.S. marketplace. H5B5 will acquire approximately 2 million shares of Unapix common stock from the company at $2 per share. Unapix has approximately 10.3 million shares outstanding at present. After completion of the transaction, H5B5 will own approximately 16.6% of Unapix’s common stock. It intends to eventually increase its stake to at least 25%. Information was unclear in Tuesday’s paper.
Going ‘Out There’
As a first move toward closer collaboration, H5B5 will represent the UPX produc-tion “Out There” in Europe, with UPX repping H5B5’s “Time Slot” in the U.S. and the U.K.
H5B5 will occupy three of the 11 seats on UPX’s board.
H5B5, which generated the majority of its DM20 million ($10 million) revenues last year from nonfiction programming, is active in TV programming and video rights; it’s also expanding into the feature film market. It recently established its own broad-band platform.
Company’s flagship product is the ProSieben docu series “World of Wonder.” It has also committed to producing docu skein “The Biggest Step of All” for Fox Tele-vision Studios.