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IN-motion’s fifth fund to back Brosnan starrer
Martin Blaney in Berlin December 11, 2000


Germany’s aggressively acquisitive IN-motion has launched a private media fund, World Media Fonds V (WMF V), through which it plans to raise at least $45m (DM100m) for three projects including $46m Pierce Brosnan-starrer The Day After Tomorrow.

WMF V is also backing $32m martial arts TV movie Invincible, which is being executive produced by Mel Gibson and Jet Li and distributed internationally by Alliance Atlantis; and $52m children`s film Tricky, which combines live-action with 3D animated characters. The Day After Tomorrow is being produced by The Ladd Company and has MGM/UA in place as North American distributor.

IN-motion said it could increase the fund’s volume to $90m (DM200m) if take-up by investors is strong and additional projects offer themselves for co-production by the fund.

IN-motion’s previous funds, WMF I- IV, have backed features such as William Jennings’ Harlem Aria and Jay Lowi`s thriller Tangled, starring Rachel Leigh Cook and Jonathan Rhys-Meyers, as well as TV projects such as two-parter Me And My Shadows, based on the biography by Judy Garland`s daughter Lorna Luft, and action series 18 Wheels Of Justice, which is handled internationally by CanWest Global Communications.

IN-motion also reported an operating result for the year to September 30, 2000 up by 1,101% to $15.3m (DM33.75m), and profit up by 1,127% to $7.1m (DM15.58m), compared to $0.58m (DM1.27m) the previous year. Chief financial officer Klaus Maz confirmed that sales for the current financial year are forecast to top $136m (DM300m) and stressed that this result will be influenced by pending acquisitions.

IN-motion catapulted itself into the international arena earlier this year with its acquisitions of financing and sales outfits Myriad Pictures and J&M Entertainment. Last week, German publication Boerse Online suggested that IN-motion was in talks to buy the US’ Artisan Entertainment, but according to an Artisan spokesperson, the two companies are discussing a co-production agreement, not an acquisition.
 
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Autor (Datum des Eintrages): local hero 3  (11.12.00 23:08:46)
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