04/05/2007

"Optimising human and financial resources, even with the liquidation of Cinesud and Cinefund SGR, to best employ public resources and simplify administrative procedures" is the first task of the new management of Cinecittà Holding, according to company president Alessandro Battisti, who yesterday presented a balance of the first eight months and illustrated the future programme, designed according to the directives of Minister of Culture Francesco Rutelli.

Cinecittà Holding, explained Battisti, incorporated the controlled company Cinecittà Diritti and drew up an agreement with the General Direction for Cinema for the use and administration of film rights held by the state. "Cinecittà will be present in the main international markets, beginning with upcoming events (the American Film Market in Los Angeles and RomeFilmFest’s Business Street), with an initial slate of titles".

Having reduced its debt of over €4m, the plan now is to sell the multiplex chain Mediaport by the summer. UCI, Warner and the Lucisano Group have all shown interest in acquiring it.

The changes include redefining the duties of Istituto Luce, which has been assigned a support and service role for young Italian and European filmmakers making their first or second quality films.

Lastly, in regards the promotion of Italian cinema abroad, run by the holding Filmitalia: "After seven years of activity, Filmitalia today assists 120 festivals throughout the world that now ask for Italian product," said Filmitalia President Irene Bignardi. "Our attentions are now turned to the Asian market, especially Japan. Alongside the Italian week programmed in Tokyo, we will organise Open Roads in New York, while other events are being defined in Latin America and Spain".

(Translated from Italian)