Relativity Enters Distribution Partnership With Germany's Senator Entertainment
As part of its business plan Relativity Media has output deals in most countries around the world. One major exception was Germany, until now.
On Wednesday, Relativity announced it was entering a joint venture with Senator Entertainment for a distribution output agreement; while also making an investment in Senator.
Among the Relativity movies that Senator will distribute are Hunter Killer, Nicholas Sparks’ Safe Haven and Afterburn.
This agreement means Relativity now has deals for distribution of its movies in every territory in the world with the exception of Japan, Korea and Italy. That allows Relativity to not only assure it will have its movies exploited in each country but also means that it can count on certain minimum guarantees, based on the budget of the movie, which enhances its ability to plan and produce movies.
Senator, which has operated in Germany for many years, was recently recapitalized by Sapinda Holding, a global investor based in Amsterdam, that also has offices in London, Berlin and five other countries. According to the announcement, Sapinda, described as a multi-billion dollar fund, may also provide funding to Relativity for other future strategic initiatives as part of the new relationship.
“Senator has a long history within the competitive German marketplace. With their new financial commitment from Sapinda, we are optimistic about the future of the business. This new venture is much more than an output deal, it’s a long-term strategic partnership,” says Relativity’s Co-President, Tucker Tooley in a statement.
“The relationship sets a new starting point for our company. With Relativity providing its top-of-the-line films to us, Senator will be able to strengthen and expand its position in the German film market on all levels,” says Senator CEO Helge Sasse in a statement.