Publicly traded German post-production facility Das Werk has acquired a 73% stake in 13 year-old LA-based production and sales outfit Promark Entertainment Group.
The move gives Promark access to Das Werk's network of post-production facilities while giving Das Werk a foothold in the US and access to Promark's international sales network. The deal was struck between Das Werk and Conny Lernhag, chairman of Promark Entertainment Group, and Jon Kramer, president of Promark Entertainment Group.
The Promark stake furthers Das Werk's plans of generating 50% of its total revenues from the creation of original content. It was acquired through Das Werk's wholly-owned subsidiary Road Movies, Wim Wenders and Ulrich Felsberg's 25 year-old production outfit which will continue to provide Das Werk with content alongside TV production outfits Traumwerk and FFP Media. Das Werk is also in negotiations to buy a stake in Roland Emmerich and Dean Devlin's LA-based Centropolis Entertainment
Das Werk owns and operates post-production facilities in Germany, Spain and Portugal and is preparing to open facilities or acquire other facilities in France, the Netherlands and Switzerland.
Promark, which has an output deal with Telecinco in Spain and has many other TV clients throughout the world, has a library of over 65 films including Inferno with Ray Liotta, After Alice with Kiefer Sutherland, Contaminated Man with William Hurt and Last Run with Armand Assante.