Spanish producer-distributorLolafilms is restructuring - the company is to sell off a majority holding inits international sales and distribution arm.
Founder and CEO AndresVicente Gomez will immediatelyfocus on revving up production on two ambitious Lolafilms biopics.
Gomez bought back his companylast year from former majority shareholder Telefonica, and recently closed asale of 20% of the company to property developer Grupo 2002.
Now he says Lola will besplit into two subsidiaries - production (Lolafilms SL) and distribution/sales(Lolafilms International) - and a deal is being negotiated to sell 51% of thelatter, which handles the producer's 200-plus title library of mostly Spanishfilms, to a major media group in Spain.
'We are poised to enter a new phase," Gomez says. "I havebeen busier reorganizing Lola's finances since July of last year than makingmovies. But the strength of a producer lies in his capacity to generateprojects, and I have continued developing films."
Lola comedy Isi/Disi landed the numbertwo spot at the local box office last year and a sequel will shoot next fall.
The first of the two Euros8-10m biopics in the works is Paz Vega vehicle Teresa, about Spain's16th century Saint Teresa from writer-director Ray Loriga. The co-productionwith the UK's Future Film Group and France's Artemis will shoot from Octoberwith co-stars Victoria Abril and Leonor Watling. Viggo Mortensen may also jointhe cast.
Thesecond biopic, Carlos Saura's Lorenzo Da Ponte, is a Vienna-set period tale aboutMozart's librettist to be co-produced with Italy's Instituto Luce and Austria'sSatel. It will start shooting next January in Italian and German.
Lola also continues to pickup the occasional film for distribution in Spain, including Berlin acquisitionsSophie Scholl - The Final Days and As It Is In Heaven. In Cannes Gomezis looking to close new acquisitions.