Advanced Medien - Finger weg und aussteigen?


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168 Postings, 8872 Tage zwiebelAdvanced Medien - Finger weg und aussteigen?

 
  
    #1
07.02.01 17:29
INTERVIEW-Advanced Medien fears cash dry up in 6-mo

By Michele Di Giovanni and Marijn van der Pas
FRANKFURT, Feb 7 (Reuters) - German film licence dealer
Advanced Medien (WKN: 509300) said on Wednesday that without a cash
injection or a capital increase the company will run out of cash
within the next six months.
"Without a capital increase, our cash will run out within
the next six months," Chief Executive Christophe Montague told
Reuters, confirming an article in a German business magazine.
He declined to specify the total amount of the company's
debt. The Neuer Markt-listed firm said last week that 2000 sales
would come in below nine month sales after it had to buy back
film rights from a customer.
Montague said his company, which is operating without a
supervisory board, is in talks with potential investors to raise
cash.
The CEO said he was "cautiously positive" on the talks,
which Advanced Medien is conducting with its major shareholder
e-m-s new media AG (WKN: 521280), also listed on the Neuer Markt.
Advanced Medien could, however, also be bailed out by e-m-s.
The producer of DVDs or digitally versatile discs owns 25
percent of Advanced Medien and has an option to buy a further 13
percent.
E-m-s said it is interested in buying the rest of the
troubled company. Chief Executive Officer Eugen Boss told
Reuters his company had received positive signals from Advanced
Medien's bankers that they would approve a takeover.
"A decision should be taken before the end of May," Boss
said, adding e-m-s was interested in the stakes Advanced Medien
holds in several U.S.-based companies and its stake in feature
film production company Redcliff.

SALES DWINDLE
Montague said the company's complete supervisory board had
left the company at the end of last year, adding he was now
setting up a new controlling body.
Advanced Medien said last week it was in talks with banks
and other investors to stabilise and improve its cash position
after lowering its earnings expectations for the full year,
forecasting a double-digit million net loss in 2000.
In November, the group lowered its full-year sales target
for 2000 by 46 percent to 70 million marks ($33.27 million).
It said sales in 2000 would be lower than the 55.1 million
marks posted for the three quarter of last year as it was forced
to buy back film rights it had sold at a lower price.
Advanced Medien blamed the profit warning on sector-wide
difficulties and said that due to the market entry of new
television concepts like reality soaps it was experiencing
difficulties selling feature films rights.
The stricken company's sales disappointment follows a wave
of profit warnings on Germany's tech-packed Neuer Markt,
including the market's former brightest star, EM.TV &
Merchandising (WKN: 568480) and market heavyweight Intershop
Communications (WKN: 622700).
((Frankfurt Newsroom. +49-69-75651203,
marijn.vanderpas@reuters.com))
 

168 Postings, 8872 Tage zwiebelHat niemand eine Meinung dazu? o.T.

 
  
    #2
07.02.01 18:35

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