Running on EMTV
German firm gains 50% of Oz Yoram Gross
EMTV is taking the 50% stake that major Oz film distrib-exhib Village Roadshow acquired in 1996. VR is now disposing of its non-film assets. The Gross family retains the other 50% of the company, which will now be known as Yoram Gross-EMTV.
EMTV's equity play in Yoram Gross cements an already strong relationship between the two parties. In October 1997, the Munich-based company inked an $80 million pact for Yoram Gross to produce 10 26-part animated series over five years.
Global growth strategy
"The acquisition of a 50% interest in the studio reflects our strategy of global growth (and) will lead to an ever closer co-operation in the production of new animated series for the international market as well as the merchandising of these properties on a worldwide basis," said EMTV chairman and chief exec Thomas Haffa.
"This is a tremendous step forward for us in the international marketplace," added Yoram Gross. "The deal will enhance EMTV's involvement in all our projects, although it will not preclude us from working with other co-producers and distributors."
Best known for the "Blinky Bill" movies and TV series, Yoram Gross Film Studios was founded in 1968 by the husband and wife team of Yoram and Sandra Gross. Recent output includes the animated series of "Skippy" "Tabaluga" and "Flipper" for Kerry Stokes Seven Network Australia and Germany's ZDF.
