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With Intermedia's growing interest in big-budget films buoyed by their successful IPO on Germany's Neuer Markt, the international financing, production and distribution outfit is shifting its home turf from London to Los Angeles. The move will shrink their U.K. shop, while seeing commensurate growth Stateside.

Business affairs, Internet operations as well as some distribution will now come from Intermedia's Los Angeles office, where company principals Nigel Sinclair and Moritz Bormann are based.

Functions of the London office will continue to include some development as well as all marketing and collections. Intermedia principal Guy East will remain in London.

Although a few London-based Intermedia employees are expected to accept offers to move to the company's Los Angeles headquarters, about 15 U.K. employees are expected to accept severance packages. A spokesperson said that Intermedia expects to see its L.A. office grow from about 25 employees to 40 in the coming year.

Intermedia's interest in pursuing studio fare like "K-19" starring Harrison Ford and David Cronenberg's "Basic Instinct 2" was the driving force behind the strategic shift, according to a spokesperson.