Intermedia, one of Europe's most powerful film companies, is planning to float on the German stock exchange before the end of the year, following the conclusion of its merger with Los Angeles-based Pacifica.
Intermedia is forming a Munich-based holding company - Intermedia AG - to facilitate the IPO. The London-based company announced in January that it would merge with Pacifica (Screendaily January 27), a production and financing entity backed by German tax money through the International Media Fund (IMF).
Pacifica and Intermedia will be wholly-owned subsidiaries of the newly-formed holding company. Intermedia founders Guy East and Nigel Sinclair and Pacifica head Moritz Borman will take seats on the board.
Intermedia plans to use the proceeds from the float to extend its core business - the financing and international distribution of features - into music publishing, TV and Internet ventures.
Borman will also join East and Sinclair as a co-chairman of London-based Intermedia Films, while remaining president of Pacifica. Pacifica will continue to develop feature projects, while IMF will continue to back features for world-wide distribution by Intermedia.