German DVD group e-m-s files for insolvency

Follows distribution arm which went bust last year

COLOGNE, Germany -- German DVD group e-m-s new media has filed for insolvency protection, following its distribution arm, e-m-s sales, which went bust last year.

In a statement, e-m-s said it was moving to restructure and focus the group on its core business of licensing DVD and TV rights.

Last year, e-m-s booked revenues of €4 million ($5 million) and an operating loss of €1.5 million ($1.9 million).

Some of e-m-s higher-profile releases include Steve Miner's zombie thriller "Day of the Dead" and Julie Delpy's "2 Days in Paris."