'Twilight' helps Tele Munchen Group To New Record Year
CANNES - Twilight Saga: Eclipse and Leonardo di Caprio-starrer Shutter Island helped Herbert Kloiber's German media conglomerate Tele-Munchen Group (TMG) to another record year, as revenues jumped to $447 million (€313 million) and operating profits (EBITA) topped $108 million (€76 million) in 2010.
Eclipse and Shutter Island, which together earned more than $50 million at the German box office boosted numbers at TMG's theatrical arm Concorde, which was Germany's number one indie distributor last year.
They also help drive up results at multiplex group CinemaxX, which boosted sales to $292 million and earned $25 million in pre-tax profits, a 41% jump on 2009. Kloiber holds a 74% stake in CinemaxX. Taken taken, TMG and CinemaxX earned $731 million (€512 million) last year, a 7% year-on-year increase.