Therevamped German producer-distributor Senator Entertainment will be developedinto integrated media company, new CEO Helge Sasse said.
Speakingat their first annual general meeting since he became a majority shareholder inthe company with fellow board member Marco Weber at the end of last year, Sasse stressed that Senator's core activity would continueto be in the production and distribution of theatrical feature films.
He toldshareholders that their "professed goal" was "to avoid themistakes of the past," which had led to the company filing for insolvencyin 2004. "We will no longer behave so aggressively budget-wise that one orseveral flops promptly see the whole firm being at stake," Sasse explained. "That also excludes so-called studio dealsfor high seven-figure sums unless third parties take on the inherentspeculative risk."
He saidthat Senator's future corporate strategy would be to stabilise the group'sliquidity and reduce its dependence on the volatile distribution sector.Senator plans to get involved in other media fields such as TV production,music production, in-house
"Ourgoal is to develop a strong and stable entertainment concern in a period ofthree to five years," Sasse said.