Nothing Splendid about $9.4 mil net loss

Company inked deal with Kirch b'caster

COLOGNE — Film rights dealer Splendid Medien has ended the first half of 2002 with a net loss of $9.4 million, despite increasing sales 48% to $19.4 million

It expects sales to reach $44 million for the whole year. Company made a small profit of $400,000 in the first half of 2001.

Company’s figures include the sale of international rights of its production “NARC,” featuring Ray Liotta, box office revenues of “Kate & Leopold,” as well as revenues from “Dragonball Z” as part of its home entertainment activities, which account for a quarter of its business.

In July Splendid signed a $17.4 million film rights deal with fallen German giant Kirch’s terrestrial broadcaster ProSiebenSat.1, which will appear in the balance sheet of the second half, and in 2003. Postponed into 2003 will be earnings from its production of “Dolan’s Cadillac” and from licenses of “Gangs of New York.”

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