‘Twilight,’ ‘Midnight In Paris’ Help Tele-München Group To Strong Year
Revenues hit $386 million and operating profits top $82 million at German media conglomorate.
CANNES – The Twilight Saga: Breaking Dawn – Part 1 and Woody Allen’s Midnight in Paris helped Herbert Kloiber’s Tele-München Group (TMG) to the third-best year in its history, as operating profit hit $82 million (€64 million) and sales topped $386 million (€300 million) last year.
TMG’s distribution subsidiary Concorde Filmverleih was again the number one independent distributor in Germany, thanks to the Twilight franchise and a collection of cross-over art house times, including Midnight in Paris and Germany culture clash comedy Alamanya. Concorde films sold 8.6 million tickets for a total box office of around $77 million in Germany last year.
German exhibitor CinemaxX continued to pay dividends for TMG, which controls a 75 percent stake, as the multiplex operator booked a record $30 million (€24 million) pre-tax profit.
TMG’s television operations, which include Germany’s Tele 5, ATV and in Austria and a stake in German network RTL II, also showed growth on the back of a strong German advertising market. Late last year, TMG added another network, Austria’s ATV II, to its portfolio.
Last August, Kloiber also won his long battle to buy into Odeon Film, acquiring a 42 percent stake in the German TV production group.