Germany's Splendid Medien has extended its existing collaboration with Warner Music by launching a joint venture company, based in Hamburg, to sell and distribute DVDs and videos in the German-speaking region.
Warner Music will hold 51% of the new company, Warner Vision Vertriebs, with Splendid holding the remaining 49%. Alexander Welzhofer, who was responsible for establishing Virgin Vision and PolyGram Filmed Entertainment in the German-speaking region, has been appointed as managing director. He also joins an extended management board at Splendid Medien with responsibility for marketing and sales.
Warner Vision Vertriebs, which is targeting sales of about $13.5m (DM28m) in 2001 and $19.3m (DM40m) in 2002, will sell and distribute product from Splendid's Munich-based subsidiary Polyband and other labels such as Intertainment and Nuclear Blast, as well as Warner and Splendid titles.
Commenting on the new venture, Welzhofer said: "on an international level, I also see good prospects for the expansion of our activities".
The two partners' existing co-operation originated in 1998 when Splendid Medien subsidiary Splendid Film struck a deal with that gave it access to Warner Vision's sell-through video and DVD distribution channels in Germany.