DAS WERK AG
Ad hoc-Service: DAS WERK AG Move into US-Film
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DAS WERK AG MOVES INTO US FILMBUSINESS:
ACQUISITION OF MAJORITY STAKE IN PROMARK ENTERTAINMENT GROUP
Acquisition Provides Das Werk With Significant Presence In US
And Enhances Global Production And Distribution Activities
Frankfurt, Germany, October 4, 2000 — In a move that provides German media
company DAS WERK AG with significant presence in the US and which greatly
enhances the global distribution activities of both Das Werk and Promark,
DAS WERK AG has acquired a 73 percent stake in Promark plc, parent company of
leading US independent film and television company Promark Entertainment.
Through the integration of Promark, Das Werk will be able to gain access
to Promark’s successful international distribution network At the same time,
Das Werk furthers its goals of generating 50% of its total revenues from the
creation of original content, which will be provided by feature film
productions Road Movies and Promark as well as Das Werk’s tv production
companies Traumwerk and FFP Media. In 2000 DAS WERK AG is aiming at surpassing
its goal of total revenues of 87 million Euro. In 2001 Promark is expected to
add about 30 Million Euro to the total revenues of DAS WERK AG.
Joachim Sturmes, CFO and Speaker of the Board of Directors of DAS WERK AG:
“For Das Werk it has always been a primary goal to merge content and
technology, production and postproduction. The introduction of Promark in the
Das Werk group of companies further strengthens our position to which the
merger of Road Movies and Das Werk lay the base in 1999. Promark will have
the opportunity to utilize Das Werk’s network of post production facilities
to compliment Das Werk’s production activities. Together we will move into
the future of film, which will be digital.”
DAS WERK AG acquires its controlling interest in Promark through the company’s
wholly-owned subsidiary Road Movies. Financial Engeneering for the transaction
was provided by the Media Group of Deutsche Bank, Cologne.
Das Werk, Europe’s leading post-production company, owns and operates
state-of-the-art post-production facilities in Germany, Spain and Portugal,
and is rapidly expanding its post operations in other key territories across
Europe: Das Werk is preparing to open facilities or acquire stakes in
postproduction companies in France, the Netherlands and Switzerland. With its
motto “Vision Possible” Das Werk has moved into digital film and is set to
move into electronic cinema.
Promark Entertainment Group is a 13-year-old producer and distributor of
feature films and television product, delivering to the marketplace 6-8
features a year, family product, light entertainment specials and a soap opera.
The main clients are TV stations around the world. Promark has an output deal
with Spanisch tv station tele cinco (tele 5) and has coproduced two films with
German CLT-UFA. Promark’s library comprises over 65 features. Promark operates
with offices in Los Angeles and London.
Promark was founded in 1988. The company has been led by Jonathan M. Kramer
since 1994. Kramer poitioned Promark as a leading producer and supplier of
quality motion pictures to the US and international marketplaces. Kramer
brought a wealth of distribution and production experiences to Promark. Among
other positions he had previously been appointed Vice President,
Telecommunications of New Century/Vista Film and Vice President, Marketing
and Ancillary Rights of CBS Theatrical Films.
Said Uli Felsberg, CEO of Road Movies and Member of the Board of Directors of
DAS WERK AG: “Promark and Road Movies have much in common: Both companies
have a track record of highly lucrative projects and strive to minimize
production risks and market their films internationally in order to achieve
the best possible return on investment. This alliance strengthens our
production capabilities and creates the basis for a worldwide distribution
apparatus.”
Jon Kramer, President of Promark Entertainment Group: “This fulfills our
company’s ambition to be positioned as an international producer-distributor.
With the financial backing of DAS WERK AG and the resources of Road Movies,
Traumwerk and FFP Media, we look forward to increasing our supply of high
quality filmed entertainment to our clients worldwide. Promark is now in
position to establish a much stronger worldwide presence.”
CONTACT:
SSA Public Relations (For Promark Entertainment)
Los Angeles: Steve Syatt, Sabrina Propper (001) 818 501-0700
Wolfgang Borgfeld (For DAS WERK AG)
Phone +49 69 97353 440
Fax +49 69 97353 442
E-Mail presse@das-werk.de
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