TMG, CineGroupe ink on pix
Deal includes distribution of fare, co-financing of projects
Deal, which gives TMG the option to increase its stake to 15%, includes the distribution of catalogued, current and future fare as well as the co-financing and co-production of projects.
CineGroupe spokeswoman Marie-Christine Dufour says the alliance makes for the perfect marriage: "TMG is an important player in Germany and this agreement gives us access to that market. And with a partner in North America, TMG is very well-positioned."
For CineGroupe, the alliance will mean a significant expansion, ensuring a stronger presence for the company's animation programming in Germany.
CineGroupe enjoys a foothold in the U.S. through its partnership with Fox Family Worldwide.
Companies' first collaboration is the feature-length 3D-animated pic "Pinocchio 3001."
"CineGroupe is one of the leading production houses of high quality animation in the world," said TMG managing director Bernd Schloetterer. "Together we will grow CineGroupe even further."
CineGroupe and TMG inked the agreement during a weeklong visit to Quebec by a Bavarian delegation of film and TV execs looking to strengthen cooperation between the two regions' film industries.
The second largest supplier of TV programming in German-lingo territories, TMG is developing a new station in Germany.
Although company has not elaborated on its plans, it has already attracted interest from other major players, like European station group and preferred TMG partner SBS. SBS chairman Harry Evans Sloan has said he would be ready and willing to help finance the channel, adding that $50 million-$200 million would be a realistic figure for the startup.
