BERLIN — Berlin-based producer-distrib Senator Entertainment has inked a multiyear $50 million deal with U.S. investment bank Capitoline Global Finance to boost its capital base.
One day after announcing a separate distribution deal with the Weinstein Co., Senator topper Helge Sasse said the investment fund would receive projected earnings from selected future film projects.
“We will be giving our core business areas, production and distribution, a new dynamic with the capital,” said Sasse, adding that the deal gives Senator the financial means to push ahead with a number of short-term projects.
“We’re quite impressed by Senator’s innovative vision for the future of the German media market,” said Brian Gilmore, president of Capitoline Global Finance. “We’re looking forward to close and lasting cooperation for the future.”
Sasse, a local media attorney and one of the founders of German musicvid channel Viva, and L.A.-based producer Marco Weber recently upped their stake in Senator after acquiring a further share from Deutsche Bank. As majority shareholders, they control 36.85% of the group through their HSW holding. Sasse and Weber took over Senator last year.
Fellow shareholders include supervisory board chairman and former Bertelsmann topper Thomas Middelhoff, who holds 4.75%, and business consultant Roland Berger, whose 10% makes him the group’s second-biggest shareholder.