Eureka alliance makes big moves
European major aims to be on par with U.S. players
CANNES -- Eureka, the much ballyhooed alliance between Italy's Mediaset and Germany's Kirch, is only a few weeks old, but already ambitious plans are in the works spanning production, advertising and broadcasting.
Talking for the first time in detail about the structure and direction of the new European major, Jan Mojto, Kirch managing director and topper of the alliance, told Daily Variety that the newly formed entity will be in a position to deal with U.S. players on an equal footing.
"We are only at the very beginning, and there are many things to come," Mojto said in describing the two partners as the only two vertically integrated European companies. "The idea behind having such size is to be able to deal with the U.S. majors on an equal basis. We are planning to be a partner on a par with the studios."
Looking for French partner
Mojto confirmed that the alliance is talking to three possible French partners -- TF1, Canal Plus and M6. Any partner that comes into the alliance must bring something to the table, he stressed.
Eureka already has interests in Spain, Germany and Italy. "A French partner is obviously missing, and we are talking with Canal Plus, TF1 and M6 because the three of them are interested. But France is underdeveloped in terms of industry," he said. Mojto stressed that the core part of the alliance is feature film and TV production and distribution divisions.
In addition to the Beta Film distribution arm, there are two new production companies. The newly formed Beta Theatrical Motion Pictures division will invest in 20 to 30 pics with U.S. players, with budgets in the $70 million range, and should reach that number within three years. The company also plans to fund between five and 10 Euro pics. Eureka already has relationships with Spyglass and New Regency, and is close to forming similar funding arrangements with other Hollywood-based talent.
