Following the insolvency of the UK media company Filmgroup PLC, Germany's Intertainment has taken back from the company more than 75 titles including The Whole Nine Yards, 3000 Miles To Graceland and Battlefield Earth. News of the termination of the contract came as Intertainment reported a reduced surplus of Euros 4.6m for the first nine months of this year, compared to Euros 12.4m for the same period last year.
The continuing legal action against Franchise Pictures because of allegedly inflated budgets, however, meant that Intertainment's turnover for the first three quarters totalled only Euros 19.7m (2000: Euros 74.3m), with an EBIT at Euros 6.2m (2000: Euros 32.4m).
Commenting on Intertainment's nine-month figures, the financial service Boerse Online gave out a "sell" recommendation, declaring that "the management has already disappointed the shareholders on several occasions with forecasts not kept.
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