euro adhoc: Advanced Medien AG
Advanced Medien sells U.S.
production subsidiary (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Munich, September 9, 2003 - Advanced Medien AG today announced that it has sold its shares in Advanced Licencing North America Inc., which acts as the holding company of its majority share in Unified Film Organization LLC (U.F.O.). Munich-based Media Entertainment Funding GmbH has purchased all shares in Advanced Licencing North America and thus 51% of the shares in the film production subsidiary U.F.O. Both parties have agreed not to disclose the purchase price or any other details of the agreement that was signed today.
Selling its subsidiary U.F.O. is an important step in the realignment of Advanced Medien AG because film production will no longer be a part of the Group's own activities in the future.
Media Entertainment Funding GmbH is essentially a financial services company in the media and film sector that specializes in film financing and advising film production companies and media funds. In addition, Media Entertainment Funding GmbH also is the German representative office of Comerica Entertainment Group / Comerica Bank of California, one of the world's largest film financing institutions.
end of announcement euro adhoc 09.09.2003
Further inquiry note:
Otto Dauer, CEO
Branche: Media
ISIN: DE0005093009
WKN: 509300
Index: CDAX, Classic All Share, Prime All Share, Prime Standard
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade