Frankfurt-based German production group Neue Sentimental Film (NSF) has acquired the remaining 49% interest in New York's Compass Films to add to the initial 51% stake it had obtained in February as part of a restructuring of its US-based business.
Compass, which like NSF concentrates on producing for the corporate communications and advertising sectors, recorded sales of around $9.6m during 2000 with commercials for such clients as Canon, Lexus and A.T. Kearney.
This latest transaction is being followed by further reorganisation of Neue Sentimental's US operations with Helene Rohr, NSF USA's managing director, and Linda Ross, NSF USA's executive producer, assuming responsibility for the Group's entire film production operations on the US market from October 1. They will also now be in charge of running Compass Films in New York.
An official ad-hoc communique indicated that NSF has decided to reorganise its US business because of "the changed environment on the American communications market" and suggested that "the holding company structure which has now been selected for US business will reduce administration expenses while still maintaining the flexibility offered by the branch offices".
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