Kinowelt Medien AG
Kinowelt Medien AG english
Kinowelt and Warner Brothers terminate collaboration
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Kinowelt and Warner Brothers terminate collaboration
Accounting adjustment related to Warner film package entails extraordinary
expense of 130 million euro for Kinowelt Medien AG
Munich, 27.11.2001: Kinowelt Medien AG, Munich and Warner Bros. International
Television Distribution, Burbank, California, have terminated their
collaboration over the marketing of feature films on the German free-TV market.
In 1999 Kinowelt had purchased a licence package from Warner Bros. that included
about 270 feature films or TV movies, more than 600 episodes of TV series and
also a number of documentaries. The rights for the films have gone back to
Warner Bros. The transaction will appear in the accounts for the third quarter
as an extraordinary expense of 130 million euro.
In June of this year, Kinowelt signed an agreement with ZDF for the sale of a
film package that included also a number of feature films from Warner Bros.
Termination of the agreement with Warner means that Kinowelt’s agreement with
ZDF will no longer be forthcoming in this form.
Enquiries to Kinowelt Medien AG:
Christin Wegener
Jörg Lang
Tel.: +49-89-30 796 7270
Tel.: +49-89-30 796 8103
end of ad-hoc-announcement (c)DGAP 27.11.2001
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272102 Nov 01
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