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

  • Richard Simmons

    Prosecutors Charge Private Eye With Illegal Spying on Richard Simmons

    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. […]

  • Lionsgate General Counsel Left Amid Allegations

    Lionsgate General Counsel Left Amid Allegations of Sexual Abuse

    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. […]

  • 'Hammerhead' Takes Top Honors at New

    'Hammerhead' Takes Top Honors at New York Television Festival

    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. […]

  • Radiohead Coachella

    Radiohead Demands Answers in Drum Technician's Death

    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. […]

  • Kevin Durant LeBron James

    Kevin Durant Praises LeBron James' Lakers Move

    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. […]

  • Kevin Durant Rich Kleiman

    Kevin Durant Shares His Media Biz Playbook at Variety Sports & Entertainment Breakfast

    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