11/07/2006

Senator Entertainment AG is soon to become an all-inclusive audiovisual group, according to a plan presented on Friday at the company’s annual general meeting by Helge Sasse, the president of the board of directors.

The objective of these changes is to avoid past errors and their financial consequences – huge debts and insolvency, as Sasse explains. He is intent on "no longer exposing company capital to the point that a few disasters put everything at stake". In particular, it is about no longer accepting "studio deals" by demanding too much investment and all types of speculative risks, which put Senator at the mercy of chance.

In order to stabilise the availability of cash assets and depend less on distribution, Senator will now use other means of distribution, such as televised productions, music and DVDs, as well as online distribution and mobile phone technology. Sasse hopes "to have developed a group of strong and stable companies three to five years from now".

The outfit’s main activities, however, are production (Senator Film Produktion) and film distribution (Senator Filmverleih ).

Sasse pointed out that "Senator is one of the biggest German distributors, with an excellent team, great know-how and remarkable sales strength through our Central Film branch" and high-performing partners, such as X-Filme Creative Pool.

(source : kino-zeit.de)

(Translated from French)