Cologne-based rights trader Splendid Medien has acquired a 100% share of Bavarian record company and video label Polyband in order to further build up its library of video and DVD rights.
The company, which distributes videos and DVDs in Germany and German-speaking countries, owns a 300-title library including 150 predominantly German and American features, 80 children's and animated movies and 70 special interest titles. Among features included in the deal are John Huston's Prizzi's Honor and Roland Joffe's The Mission.
Splendid significantly boosted operating profits, from $1.8m to $5.1m last year, which it claimed was mostly due to the performance of its library and video titles, particularly after striking a sub-distribution deal with Warner Vision Germany. The company's video/DVD division generated turnover of $5.8m (DM13.1m) in 1999.
Splendid also recently acquired an 85% stake in newly-launched multimedia company Enteractive which specialises in developing content for DVD and internet distribution.