Filmax readies online megastore

Co. debuts film, music portal

Spanish mini-major Filmax Entertainment is set to launch an online megastore to sell films and music worldwide.

Company expects the site to be up and running by spring.

The as-yet-untitled portal will host titles from Filmax’s catalog of 4,000 films, as well as pics from outside distribs.

It also will offer nearly 2 million songs for downloading. Filmax has reached licensing deals with most international studios and indie companies.

Filmax will use the portal to webcast two online TV channels, one of them specializing in horror pics, a specialty of the company.

“We will connect all the fantasy genre fans around the world,” Filmax chairman Julio Fernandez told Daily Variety at the San Sebastian Film Festival on Friday.

Filmax’s Internet move comes on the heels of a capital influx for the company.

On Wednesday, Filmax announced it had put through a 220 million ($27 million) capital increase, underwritten by Filmax’s shareholders.

The increase forms part of a strategic growth plan for the next three years.

“In the last two to three years we’ve drastically reduced our acquisitions budget. We used to invest $40 million a year in film acquisitions. These days, we prefer to invest that in production,” said Fernandez.

Filmax aims to produce or co-produce both big and low-budget pics, which recoup from the international market. It’s in post-production on Brad Anderson’s “Transsiberian,” starring Woody Harrelson, Emily Mortimer and Ben Kingsley.

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