BERLIN — Cash-strapped German entertainment group Kinowelt has given Peter Heinzemann the top job at its Theile Hoyts Entertainment/Kinopolis theater chain to speed up the sale of its exhib holdings.
Heinzemann, head of Kinowelt’s distribution division, replaces Hans-Juergen Jochum, who was reportedly ousted because of the slow pace of efforts to sell company’s 50.1% stake in multiplex operator Theile Hoyts Kinopolis, which controls 25% of Village Cinema’s German operations.
Heinzemann will remain in charge of distrib Kinowelt Filmverleih. The group acquired the assets last year, giving it around 17% of Germany’s multiplex market.
Kinowelt, which is facing bankruptcy, is restructuring and shedding all nonessential holdings, including its in-flight entertainment biz.
Company will keep its distribution, home entertainment and DVD divisions as well as a very trimmed co-production arm.