28/05/2003

Following the example of their parent company Canal+, StudioCanal has decided to reduce the financial risks and externalise its film production activities. The new strategy was announced in Cannes by Frédéric Sichler who was appointed to head StudioCanal three months ago.
StudioCanal has ongoing production deals with three French production slates, Les Films Alain Sarde, Alain Goldman through his Légende Entreprises and Richard Grandpierre with Eskwad, but intends rescinding its legal ties to these companies whilst continuing to work with them closely. This move represents another stage in the gradual reorganisation of the group, and follows StudioCanal's disengagement from most of its international joint ventures, including Germany's Tobias and Italy's Rai Cinema (whose contract runs out at the end of June).
StutioCanal will henceforth limit itself to co-producing around 25 feature films per year (only 10 of which will see a major investment by the French group), compared to the 45 it produced in its better years.
The group's distributor, Mars Films will not be subjected to the same restrictions and it will release around twenty titles per year. Furthermore, StudioCanal hopes to renew the contract it drew up with the UK's Working Title Films five years ago in order to ensure its catalogue of around 5,500 films (the jewel in StudioCanal's crown) continues to grow.

(Translated from French)