×
You will be redirected back to your article in seconds

Advanced swings to loss

German company's revs sink to $7.57 mil

LONDON — German licensing player Advanced Medien has posted first-half losses of 8.45 million euros ($7.69 million), compared with a profit of $1.10 million for the same period last year.

Company revenues sank to $7.57 million from $17.34 million. Advanced blamed legal costs from a lawsuit with an unnamed licensing company as well as writedowns.

Advanced is facing more legal costs after director Wolfgang Petersen filed suit earlier this month for breach of contract. Advanced, which has a deal with Petersen to bankroll joint production company Red Cliff Prods., denies the allegations.

Advanced maintains it still has 180 days to pay the remaining $2 million on a $5 million letter of credit it had agreed to provide. Petersen asserts that development costs of $1.3 million also are due, but Advanced claims they already have been paid.

More Biz

  • The ruins of a spiral staircase

    How to Help Victims of the California Wildfires

    LONDON — German licensing player Advanced Medien has posted first-half losses of 8.45 million euros ($7.69 million), compared with a profit of $1.10 million for the same period last year. Company revenues sank to $7.57 million from $17.34 million. Advanced blamed legal costs from a lawsuit with an unnamed licensing company as well as writedowns. […]

  • NYU Campus - The NYU students

    NYU to Launch Los Angeles-Based Program

    LONDON — German licensing player Advanced Medien has posted first-half losses of 8.45 million euros ($7.69 million), compared with a profit of $1.10 million for the same period last year. Company revenues sank to $7.57 million from $17.34 million. Advanced blamed legal costs from a lawsuit with an unnamed licensing company as well as writedowns. […]

  • Scott Budnick

    Scott Budnick’s One Community Aims to Make a Difference With Activist Content

    LONDON — German licensing player Advanced Medien has posted first-half losses of 8.45 million euros ($7.69 million), compared with a profit of $1.10 million for the same period last year. Company revenues sank to $7.57 million from $17.34 million. Advanced blamed legal costs from a lawsuit with an unnamed licensing company as well as writedowns. […]

  • Michael B Jordan Variety Feature Article

    How Michael B. Jordan Is Leading the Charge in Hollywood's Diversity Efforts

    LONDON — German licensing player Advanced Medien has posted first-half losses of 8.45 million euros ($7.69 million), compared with a profit of $1.10 million for the same period last year. Company revenues sank to $7.57 million from $17.34 million. Advanced blamed legal costs from a lawsuit with an unnamed licensing company as well as writedowns. […]

  • John Sykes, Bob PittmaniHeartRadio iPad App

    iHeartMedia Unveils Post-Bankruptcy Board of Directors

    LONDON — German licensing player Advanced Medien has posted first-half losses of 8.45 million euros ($7.69 million), compared with a profit of $1.10 million for the same period last year. Company revenues sank to $7.57 million from $17.34 million. Advanced blamed legal costs from a lawsuit with an unnamed licensing company as well as writedowns. […]

  • Billy Porter

    Emma Gonzalez, 'Queer Eye' Cast Among Out100 Honorees

    LONDON — German licensing player Advanced Medien has posted first-half losses of 8.45 million euros ($7.69 million), compared with a profit of $1.10 million for the same period last year. Company revenues sank to $7.57 million from $17.34 million. Advanced blamed legal costs from a lawsuit with an unnamed licensing company as well as writedowns. […]

More From Our Brands

Access exclusive content