|
SUMMIT ENTERTAINMENT INTERNATIONAL AND TELE-MUENCHEN JOIN FORCES FOR OUTPUT DEAL IN GERMANY & AUSTRIA
Partnership to launch with Summit Entertainment's TWILIGHT and SEX DRIVE Santa Monica, CA November 4, 2007 — Summit International and Tele-Muenchen Group (TMG) have concluded negotiations on a three year output deal, for all rights in Germany and Austria as well as television rights in German-speaking Switzerland through 2010. The deal was announced today - at the AFM - by Patrick Wachsberger, CEO of Summit International, Bob Hayward, Summit Entertainment's COO, and Dr. Herbert Kloiber, Managing Director of still privately held TMG. The deal begins with TWILIGHT and SEX DRIVE and will include a large number of annually qualifying films produced, co-produced and/or acquired by Summit during the Output Term - excluding only agency films. Concorde, TMG's wholly owned affiliate, led by Markus Zimmer (Concorde Filmverleih) and Michael Ivert (Concorde Home Entertainment) will handle theatrical and video distribution of the output films as well as Summit's IN THE VALLEY OF ELAH and GET SOME which were separately acquired prior to the deal. As always, free and paid TV rights will be handled by Tele Muenchen directly. Wachsberger and Hayward said, "We have dealt with Herbert and his team for many years and have always enjoyed a great relationship with them, both professionally and personally. Tele-Muenchen is the ideal partner for Summit with a first class distribution organization and a strong television and exhibition operation. They are a great home for our product and we are very proud to have them as our output partner." Herbert Kloiber remarked: "Patrick and I have known each other far too long to even count the years. Among all the deals we have done over the past 3 decades some were successful and some were not so successful but what has always impressed me was the passion and quality behind Patrick and Bob's line up, be it their own productions or sales titles. The current WGA strike and the expected SAG strike won't make things any easier for Summit in their first year out as a US distributor but long term we have high hopes for the slate that Patrick, Bob, and Rob Friedman are building, along with talented young executives like Erik Feig. We have no doubt that Summit will be a major US Studio in a few years time. Thomas Augsberger, TMG's exclusive US representative, and Patrick Wachsberger and Bob Hayward of Summit negotiated the deal terms for the parties. ABOUT SUMMIT: Summit Entertainment is a worldwide theatrical motion picture development, financing, production and distribution studio. The studio handles all aspects of marketing and distribution for both its own internally developed motion pictures as well as acquired pictures. Summit Entertainment, LLC also represents international sales for both its own slate and third party product. Summit Entertainment, LLC plans to release 10 to 12 films annually. ABOUT TELE MUENCHEN: Based in Munich, Germany, TMG is a fully integrated media company, which has been successfully operating in the German and international market place for over 30 years. In the German speaking territories, TMG is able to exploit all audio-visual rights through its own distribution channels. Its activities include the production and acquisition of feature films, TV productions and classical music programs, as well as their distribution in the theatrical, video, broadcasting and merchandising sectors. Earlier in 2007, TMG co-founded On Demand Deutschland, a joint venture with U.K. interactive specialist On Demand Group. Besides, TMG is a major shareholder in the nationwide Free TV-stations Tele 5 and RTL II in Germany as well as ATV in Austria, the CinemaxX AG exhibition chain and the post-production service provider CineMedia Film AG. Concorde Filmverleih, founded in 1980, has brought more than 400 films to German cinemas. Concorde's annual release slate typically consists of 15-20 titles and offers a diverse mix of first class European and American arthouse cinema, self generated German and international co-productions and commercial Hollywood features. Among recent highlights in Concorde's line-up were "The Queen", "Silent Hill", "Brothers Grimm", "Italian Job" and the two "Lara Croft: Tomb Raider" pictures which TMG co-financed with Paramount on the one hand and BBC and Toho Towa on the other hand. For 2007/2008, Concorde has one of its strongest line-ups ever, with "30 Days Of Night" to be release next week, followed by "Mr. Brooks" and "Dan In Real Life" in December 2007. Outside the above mentioned Summit titles, commercial highlights in 2008 are expected to be "Babylon A.D.", "Iron Man", "The Incredible Hulk" and "Doomsday." Currently in release is "Ein Fliehendes Pferd", a German language Kloiber production, adapted from Martin Walser's classic novel, which just opened to rave review.  
|
