COLOGNE, Germany -- Fund manager Entertainment Value Assn. has signed a deal to manage the Vif1 film fund, the companies said Monday.
Vif has invested some €15 million ($20 million) in television and film production, backing projects like cult sci-fi series "Lexx -- The Dark Zone" and the 2002 WWII drama "Where the Eskimos Live".
EVA plans to track down revenue owed the fund by partners who have licensed and sold rights to Vif productions without paying the proper compensation.
EVA was set up last year by David Groenewold's Odeon Film and fund manager Kai-Roger Grueneke, managing director of Vif1 for the last three years.
In addition to Vif1, EVA controls a majority stake in German fund ApolloMedia, the group that bankrolled more than 80 international feature films including "FeardotCom" and "Whale Rider".
Vif has invested some €15 million ($20 million) in television and film production, backing projects like cult sci-fi series "Lexx -- The Dark Zone" and the 2002 WWII drama "Where the Eskimos Live".
EVA plans to track down revenue owed the fund by partners who have licensed and sold rights to Vif productions without paying the proper compensation.
EVA was set up last year by David Groenewold's Odeon Film and fund manager Kai-Roger Grueneke, managing director of Vif1 for the last three years.
In addition to Vif1, EVA controls a majority stake in German fund ApolloMedia, the group that bankrolled more than 80 international feature films including "FeardotCom" and "Whale Rider".
- 3/27/2007
- The Hollywood Reporter - Movie News
After a year of arguing, complaining and, finally, negotiating, the German film industry has agreed on a new system to finance films.
The new law, which goes into effect Jan. 1, will provide €180 million ($238 million) in the form of tax rebates over three years to feature films.
"It is almost a miracle that we managed any law at all, so I'm very pleased," film financier David Groenewold of German Film Prods. said. "When you think that the €60 million ($78.7 million) a year is intended as 20% gap financing for productions, we are talking about €300 million ($393.5 million) worth of German productions annually. A lot more films that couldn't get made in the past will now be able to get that final 20%."
Groenewold's optimism is echoed by the majority of German producers, happy that there is now a clear set of rules for receiving automatic tax relief for films shot in Germany.
But to qualify for a rebate under the new system, films will have to pass a German certification test -- a points system that favors German-language projects with German casts and crews.
Sytze van der Laan, managing director of local production giant Studio Hamburg, said the points system will make it more difficult to produce international (i.e. English-language) productions out of Germany.
Studio Hamburg had intended to make the sequel to its English-language children's film "The Three Investigators" in Germany but has shifted production to South Africa after it became clear the film was unlikely to qualify for tax relief.
The new law, which goes into effect Jan. 1, will provide €180 million ($238 million) in the form of tax rebates over three years to feature films.
"It is almost a miracle that we managed any law at all, so I'm very pleased," film financier David Groenewold of German Film Prods. said. "When you think that the €60 million ($78.7 million) a year is intended as 20% gap financing for productions, we are talking about €300 million ($393.5 million) worth of German productions annually. A lot more films that couldn't get made in the past will now be able to get that final 20%."
Groenewold's optimism is echoed by the majority of German producers, happy that there is now a clear set of rules for receiving automatic tax relief for films shot in Germany.
But to qualify for a rebate under the new system, films will have to pass a German certification test -- a points system that favors German-language projects with German casts and crews.
Sytze van der Laan, managing director of local production giant Studio Hamburg, said the points system will make it more difficult to produce international (i.e. English-language) productions out of Germany.
Studio Hamburg had intended to make the sequel to its English-language children's film "The Three Investigators" in Germany but has shifted production to South Africa after it became clear the film was unlikely to qualify for tax relief.
- 12/26/2006
- The Hollywood Reporter - Movie News
COLOGNE, Germany -- German financial wunderkind David Groenewold added another puzzle piece to his cross-media group Monday, transferring 51% of new Berlin-based distributor Majestic Filmverleih and producer Majestic Filmproduktion to his production group Odeon Film. Groenewold set up the Majestic companies this year with his partner and former Senator Film executive Benjamin Herrmann. Herrmann remains Majestic managing director and holds a 49% stake in both companies. Majestic's focus is on German-language features, both as a distributor and a financier/co-producer.
- 11/20/2006
- The Hollywood Reporter - Movie News
COLOGNE, Germany -- German financial wunderkind David Groenewold added another puzzle piece to his cross-media group on Monday, transferring 51% of new Berlin-based distributor Majestic Filmverleih and producer Majestic Filmproduktion to his production group Odeon Film.
Groenewold set up the Majestic companies earlier this year with partner, and former Senator Film executive, Benjamin Herrmann. Herrmann remains Majestic managing director and holds a 49% stake in both companies.
Majestic's focus is on German-language features, both as a distributor and a financier/co-producer.
Last week the group picked up Doris Doerrie's upcoming romantic comedy Hanami and the documentary Con Man Confidential from Alexander Adolph.
Majestic has also boarded three new features as a co-producer and distributor: Florian Gallenberger's World War II biopic John Rabe; the mountain climbing drama Nordwand from Phillip Stoelzl; and Desert Flower, an adaptation of the 1997 best-selling autobiography from Somalian-born model Waris Dirie.
Groenewold set up the Majestic companies earlier this year with partner, and former Senator Film executive, Benjamin Herrmann. Herrmann remains Majestic managing director and holds a 49% stake in both companies.
Majestic's focus is on German-language features, both as a distributor and a financier/co-producer.
Last week the group picked up Doris Doerrie's upcoming romantic comedy Hanami and the documentary Con Man Confidential from Alexander Adolph.
Majestic has also boarded three new features as a co-producer and distributor: Florian Gallenberger's World War II biopic John Rabe; the mountain climbing drama Nordwand from Phillip Stoelzl; and Desert Flower, an adaptation of the 1997 best-selling autobiography from Somalian-born model Waris Dirie.
- 11/20/2006
- The Hollywood Reporter - Movie News
The supervisory board of German production house Odeon Film (Leo and Claire, Buffalo Soldiers) has resigned, following the sale of the company from Bavaria Film to David Groenewold's media fund GFP. Board members Dieter Frank, Lothar Wedel and Thomas Karl resigned Tuesday. A new board is expected to be appointed in the coming days. GFP acquired Odeon in April, reportedly beat out competing suitors Tele-Muenchen and MME to snap up the Munich-based group.
- 5/24/2006
- The Hollywood Reporter - Movie News
The supervisory board of German production house Odeon Film (Leo and Claire, Buffalo Soldiers) has resigned, following the sale of the company from Bavaria Film to David Groenewold's media fund GFP. Board members Dieter Frank, Lothar Wedel and Thomas Karl resigned Tuesday. A new board is expected to be appointed in the coming days. GFP acquired Odeon in April, reportedly beat out competing suitors Tele-Muenchen and MME to snap up the Munich-based group.
- 5/24/2006
- The Hollywood Reporter - Movie News
BERLIN -- German film fund GFP has taken majority control of Munich-based producer Odeon Film, the shingle that produced hit German children's movies Wild Chicks and Bibi Blocksberg as well as co-producing international fare including Buffalo Soldiers and Mortel Transfert. GFP acquired Odeon from parent Bavaria Film for an undisclosed sum, the companies announced Thursday . In addition to its film work, Odeon is a leading producer of German television drama. "Odeon Film is an established, debt-free company with a high cash-flow," said GFP managing director David Groenewold, explaining the reasons for the deal. "In addition, with Odeon we are also buying a strong brand with years of experience and success." GFP is one of Germany's leading private investment film funds but one of The Only Ones to specialize in local-language productions. Recent GFP-backed films include Berlin Film Festival entries The Elementary Particles and The Red Cockatoo.
- 4/13/2006
- The Hollywood Reporter - Movie News
COLOGNE, Germany -- Germany's lucrative private investment film funds will soon be dismantled entirely, one of the territory's leading fund managers said Wednesday. The film funds, which have pumped billions of dollars into Hollywood productions over the past few decades, will almost certainly be shut down, no matter who wins Germany's federal elections Sept. 18, said David Groenewold, head of film production fund GFP Medienfonds. "None of (Germany's) political parties want media funds anymore, so in the future (following the election) they will no longer exist," Groenewold told a crowd of industry executives at the fund and finance trade fair in Cologne.
- 9/14/2005
- The Hollywood Reporter - Movie News
COLOGNE -- David Groenewold's German Film Prods. has boarded the children's film Hui Buh -- Das Schlossgespenst (Hui Buh -- The Castle Ghost), which features local comedy star Michael "Bully" Herbig, Groenwold said Monday. Herbig, who directed and starred in the German boxoffice hits Dreamship Surprise and Manitou's Shoe, plays the title role of the clumsy ghost Hui Buh. The cast also features Heike Makatsch (Love, Actually) and German comedy star Christoph Maria Herbst. GFP will co-finance the film with producers Constantin Film and Christian Becker's Rat Pack Filmproduktion. GFP and Rat Pack previously teamed for last year's comedy spoof The Wanker, a surprise hit which took in more than $14 million at the German boxoffice. Sebastian Niemann, who helmed the German TV movie The Jesus Video for Rat Pack and GFP, will direct Hui Buh.
COLOGNE -- David Groenewold's German Film Productions has boarded the children's film Hui Buh - Das Schlossgespenst (Hui Buh -- The Castle Ghost), which features local comedy star and boxoffice champ Michael "Bully" Herbig, Groenwold said Monday. Herbig, who directed and starred in German comedy boxoffice hits' Dreamship Surprise and Manitou's Shoe, plays the title role of the clumsy ghost Hui Buh. The cast also features Heike Makatsch (Love, Actually) and German comedy star Christoph Maria Herbst. GFP will co-finance the film together with producers Constantin Film and Christian Becker's Rat Pack Filmproduktion. GFP and Rat Pack previously teamed for last year's comedy spoof The Wanker, which was a surprise hit, taking in more than $14 million at the German box office. Sebastian Niemann, who helmed German TV movie The Jesus Video for Rat Pack and GFP, will direct Hui Buh.
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