RTL buys Intermedia pics
Deal is the beginning of a 'relationship'
The move is in line with RTL's all rights strategy for German-speaking territories. Over the past year, RTL has intensified its efforts to acquire all rights to films picked up directly from U.S. producers and underscores the transformation of the local business into a buyer's market.
Intermedia had been trying to sell the pics for months, after being forced to look for new buyers for its product after cash-strapped German distrib Helkon backed out of an output deal it had with the company last year.
Theatrical rights to the Intermedia package will go to Munich-based distrib Constantin Film, which inked a cooperation deal with RTL last year giving it rights to distribute all features acquired by RTL in Germany and Austria.
"K-19" and "K-PAX" will be released in Germany this year, Cologne-based RTL Television is taking the free TV rights, and RTL's home entertainment division BMG Video/Universum Film will handle video and DVD rights.
"I'm convinced that our agreement is the beginning of a long and prosperous relationship," Moritz Bormann, CEO of Intermedia's Munich-based parent Internationalmedia, said. "With RTL we have the indisputable market leader in German television."
"Internationalmedia is one of the premier addresses for independent Hollywood productions," RTL General Secretary Constantin Lange added. "I am delighted that they have trusted us with three of their film highlights."
