03/01/2003

As part of its ongoing restructuring policy, StudioCanal, one of France’s leading film production companies announced it was selling back its 60 per cent share of German distributor Tobis to that company’s founder and president, Kilian Rebentrost.
StudioCanal first acquired a 20 per cent share in Tobis in 1997, and added a further 40 per cent in February 2000. The future of StudioCanal, the film production arm of Canal+, now lies firmly in the domestic market. Canal+ is owned by troubled media giant Vivendi-Universal that is currently engaged in a widespread sale of its assets. After a period of Europe-wide expansion, StudioCanal recently initiated a series of cutbacks and now its only foreign partnership with 01 Distribution, the distribution arm of Italy’s Rai Cinema. Cessations notwithstanding, StudioCanal intends maintaining its business ties to Tobis; the German company will continue to distribute StudioCanal films on the home market.
StudioCanal is also reorganising its management, with the current president of the group, Richard Lenormand, said to be negotiating the terms of his resignation.
Meanwhile France’s leading theatrical exhibitor, Pathe is hanging on to its 20 per cent of Tobis and may well increase its share. Tobis is owned by Germany’s three leading independent distributors who also co-produce German films.