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Ad hoc-Mitteilung: Kinowelt Medien AG

Ad hoc-Mitteilung: Kinowelt Medien AG

Für den Inhalt der Mitteilung ist der Emittent verantwortlich. ------------------------------------------------------------------------------ Kinowelt-USA, Inc. agrees on collaboration with successful US producer Gale Anne Hurd - Creator of blockbusters like "Terminator 1 and 2", "Aliens" and "Armageddon" to co-operate with newly-founded Kinowelt subsidiary Munich/Los Angeles, 11.4.2000: Within just a few weeks of its creation, the production company Kinowelt-USA, Inc. has managed to sign an agreement with star US producer Gale Anne Hurd on the joint production and marketing of major event and action films. The agreement secures Kinowelt so-called "first look" rights for all planned productions by Hurd and her companies Pacific Western Productions, Inc. and Valhalla Productions, Inc. Under the deal, Kinowelt will provide the financial backing for Hurds projects and thereby secure the world-wide marketing rights. The agreement runs for the next five years, with production of three to five cinema feature films envisaged each year, at a budget of between 20 and 80 million US dollars per film. The first joint production will be announced during the course of the next two months.

Gale Anne Hurds name is associated above all with blockbusters like "Terminator", "Terminator 2", "Aliens" and "Armageddon" - which alone has brought in more than US$ 550 million from world-wide box-office sales to date. During the course of an impressive twenty-year career Hurd has consistently set new standards for the film industry, producing more than 22 cinema feature films which have received 14 Oscar nominations, won no fewer than eight of these coveted awards and brought in more than US$ 2 billion in world-wide box-office revenues. "Kinowelt-USA, Inc. aims to set up strategic co-operative deals with leading US producers and thus ensure that the Kinowelt Media Group continues to have access to attractive film material. We are particularly pleased and proud that we have succeeded in acquiring Gale Anne Hurd as our first partner, as she is one of the best and most creative producers in Hollywood", comments Chris Sievernich, CEO and - together with Dr. Rainer Kölmel - co-chairman of Kinowelt-USA, Inc. Kölmel adds: "We look forwards to jointly developing and producing film projects with Hurd, enabling her to continue her impressive track record of successful blockbusters." Gale Anne Hurds comment on this strategic link-up with Kinowelt: "In recent years I have been following with great interest what has been going on in the film industry in Germany. To my mind Kinowelt has clearly played a leading role in the positive developments over there. I look forward to working with this highly successful company and jointly setting new milestones in the international film industry." The agreement means that Kinowelt-USA, Inc. has already achieved one of its strategic goals at an early stage in its development. Further collaborative deals with leading producers and US studios are planned, as are the financing and production of US feature films ranging from high-budget productions by major studios to selected, high-quality independent films. But by setting up Kinowelt-USA, Inc. in March 2000, the Kinowelt Media Group has done more than just strengthen its presence on the American continent. Based in Beverly Hills, the new Kinowelt subsidiary will be operating close to the heart of the US film industry and will therefore be well- positioned to collaborate with major American film producers. The creation of the new company marks a further milestone in the successful development of the Kinowelt Media Group, securing it long-term access to the world-wide rights to attractive film material. The Munich-based media company was able to recruit Chris Sievernich, a highly experienced film professional as CEO of Kinowelt-USA, Inc. Sievernich was previously a member of the supervisory board of Kinowelt Medien AG and has therefore already made a major contribution to the development of the Group. He has excellent contacts and long-standing links with the leading American producers and studios. Current projects for which he is executive producer include: "Where the Money Is" with Paul Newman and Linda Fiorentino, due to be released in the US on 14 April, and "The Wedding Planner", which is at present being shot with Jennifer Lopez and Matthew McConaughey. Sievernich is a member of the prestigious Academy of Motion Picture Arts and Sciences and the European Film Academy. The plan is for the Kinowelt Media Groups its partner studios to look after the US distribution side and Kinowelt takes care of world-wide distribution, for which it is already building up an international marketing network covering Germany, Switzerland, the countries of central and eastern Europe and - via the link with Alliance Atlantis - Britain, Canada. Other countries are to be added, with talks at present under way with independent distributors in Spain, France and Italy. The Kinowelt Media Group thus continues to forge ahead and is poised to further increase the number of films to which it holds rights in perpetuity. Enquiries to: Kinowelt Medien AG Christin Wegener Vice President Press & Investor Relations Tel.: 089-30 796 7270 Fax: 089-30 796 7330 e-mail: IR@kinowelt.de www.kinowelt-medien-ag.de ------------------------------------------ Ende der Mitteilung
Quelle: Pressemitteilung

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last update 13.4.2000