Having climbed 19% lastweek, Intermedia shares had rocketed a further 18% by press time yesterday asopening figures for Terminator 3: Rise Of The Machines came in. The film, which grossed $4m on Tuesdaynight previews, took $12.5m on its first full day on release yesterday throughWarner Bros, bringing its first day total to $16.5m.
Intermedia is estimating afive-day gross in the $70m range.
Shares in IMInternationalmedia, Intermedia's corporate parent, were at Euros 2.09 at end ofday LA time, hitting a year high. Significantly, the volume of trading was heavy:more than 1.6m shares were traded yesterday, compared with an average of lessthan 100,000 shares per day in the first four months of the year.
Terminator 3, budgeted at around $175m, is this weekend upagainst MGM's female-skewed Legally Blonde 2: Red, White And Blonde and DreamWorks' family film Sinbad: Legend Of TheSeven Seas.
Shares has already climbedlast week as good reviews came in and the film went down well at Cinema Expoexhibitor conference in Amsterdam.
Intermedia has raised thestakes on the film by sacrificing upfront fees in return for slice of the backend, a gamble which is increasingly looking like it has paid off. Intermediaand Andy Vajna and Mario Kassar's production company C-2 Pictures have alsoretained merchandising rights.