CEO of the Berlin-based producer-distributor resigns after eight years in the role and “takes responsibility” for major losses in 2013.
Helge Sasse, the CEO of Germany’s Senator Entertainment, is to step down next month after more than eight years in the role.
Under his leadership, Senator Film Verleih released blockbusters such as The Reader, The King’s Speech and The Intouchables in German cinemas, of which the latter earned Senator $80m in 2012.
However, Sasse invested that money into acquisitions of titles such as Silver Linings Playbook, Side Effects and The Master, which did not meet expectations at the German box office. It saw the company record a net loss of $38m (€27.4m) in 2013 as revenues fell 47.1% to $37.5m (€27.1m).
Part of a major restructure will see British investment group Sapinda take majority control of Senator and refocus the group more on in-house productions and less on international acquisitions. This resulted in a $15m (€10.8m) write-down on film...
Helge Sasse, the CEO of Germany’s Senator Entertainment, is to step down next month after more than eight years in the role.
Under his leadership, Senator Film Verleih released blockbusters such as The Reader, The King’s Speech and The Intouchables in German cinemas, of which the latter earned Senator $80m in 2012.
However, Sasse invested that money into acquisitions of titles such as Silver Linings Playbook, Side Effects and The Master, which did not meet expectations at the German box office. It saw the company record a net loss of $38m (€27.4m) in 2013 as revenues fell 47.1% to $37.5m (€27.1m).
Part of a major restructure will see British investment group Sapinda take majority control of Senator and refocus the group more on in-house productions and less on international acquisitions. This resulted in a $15m (€10.8m) write-down on film...
- 5/23/2014
- by michael.rosser@screendaily.com (Michael Rosser)
- ScreenDaily
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