Leading German DVD company e-m-s new media has been granted a Euros 5m extension of its credit line by principal banker Dortmunder Volksbank. The money will help finance the acquisition of new film rights to add to its 400-title library.
In addition, the previously short-term overdraft facility of Euro 3.5m has been converted to a long-term credit line.
With the investment loan, own cash-flow and two recent capital increases in place, e-m-s is confident of meeting the targets for its projected volume of business this year and setting the course for further growth in 2005.
The company, which has a 2.9% share of the German DVD market, is expecting sales revenues in its home entertainment division of Euro 19m for 2004 and Euro 25m in 2005.
The upbeat news from e-m-s comes as preparations are in full swing for the launching of the company's own in-house theatrical distribution arm 3L Filmverleih with the Oscar-winning Monster on April 15, to be followed by other titles such as Korea's Muse - The Warrior by Kim Sung-Su and Michel Schonneman's action-comedy Old Men In New Cars and Kjell Sundvall's The Guy In The Grave Next Door.