StudioCanal buys majority stakes in Tandem Communications
Pascale Paoli-Lebailly ©RapidTVNews | 12-01-2012
Canal+’s feature film production and distribution subsidiary is diversifying activities into the TV business with a majority stake in German production house.
Managers and co-founders Rola Bauer, Tim Halkin and Jonas Bauer will remain shareholders and will continue to lead and further develop Tandem Communications towards the production of continuing series.
“With our multi-territory distribution network, the development of our international production, amplified by our slate financing deal (with Anton Capital Entertainment), StudioCanal is really now a major studio in Europe, Olivier Courson, the chairman and CEO of StudioCanal explains. The next logical move is to diversify into TV series.”
For the last five years, StudioCanal has been mainly operating in France, UK and Germany and deals with 40 films each year. The company anticipates a 14 % growth of its profitability in 2011 and a turnover up to €400 million.
The company is behind TV series such as The Pillars of Earth and World Without End, adapted from Ken Folletts’s novels and slated for 2012 release are event mini-series Labyrinth, based on the novel by Kate Mosse.