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'Cloud Atlas,' 'Hansel and Gretel' Push Babelsberg to a Profit

Cloud Atlas Wrap - H 2011
Jay Maidment. Copyright © Cloud Atlas Production GmbH

The German film studio books a slim net profit in 2011 thanks to big budget shoots.

COLOGNE, Germany - Cloud Atlas, the ambitious epic from Matrix siblings Lana and Andy Wachowski and Tom Tywker and the MGM/Paramount horror comedy Hansel and Gretel: Witch Hunters with Avengers star Jeremy Renner and Gemma Arterton helped balance the books at Germany's Studio Babelsberg, which hosted the two shoots.

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The big budget productions, along with several German-language shoots, including Detlev Buck's local rom-com hit Women in Love, helped Babelsberg to an operating profit of $703,000 (€535,000) for the year. That beat the studio's own estimate. In November, Babelsberg warned investors it expected it's full year figures to dip into the red.

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Things don't look as sunny for 2012. In a statement, Babelsberg said it was "pessimistic" about this year's prospects, noting that the studio has yet to land a major international production. Babelsberg blamed stronger competition from backlots in the Czech Republic, Hungary, Canada, England and Australia.