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Barrandov Studios to Increase Capital

25.7.2007 - CTK News Service

Autor: beh

BARRANDOV STUDIOS WILL INCREASE CAPITAL TO 395 MILLION CROWNS FOR DIGITAL TV

Prague, July 25 (CTK) – Barrandov Studios, the joint-stock company that operates one of Europe’s most extensive film complexes in Prague, will double its registered capital from its current value of 197.4 million crowns to 394.8 million in order to support investments in preparation for its new digital television station. The company’s General Meeting made the decision to increase registered capital last week. CTK obtained the information today from an announcement published in the last issue of the Business Digest.

“The increase in registered capital directly relates to the start-up of the television station TV Barrandov is preparing,” CTK was told today by Tomas Zelazko, the Barrandov Studios media representative. Barrandov Studios was granted a license for its TV Barrandov full-format digital television station last spring. Originally, the new digital stations were scheduled to start broadcasting this May, but, due to court disputes regarding the granting of licenses, it has not yet started. If Parliament’s decision on approving amendments to the Media Act is not delayed, the digital stations could start broadcasting next year.

According to the rules in place at Barrandov Studios for increasing registered capital, the company’s existing shareholders will have priority rights for subscribing to the new stock. Approximately 99.7 percent of Barrandov Studios stock is held by Moravia Steel, with entrepreneur Tomas Chrenek at the helm. Minority shares are held by directors Milos Forman and Vaclav Marhoul along with cameraman Miroslav Ondricek.

Barrandov Studios’ registered capital will be increased through the subscription of 150 shares of common stock with a nominal value of CZK 16,000 apiece and one share with a nominal value of CZK 195 million. The issue price for subscribing to the new shares is equal to their nominal value with, the prioriry subscription period set to expire on August 8.

Last year, Barrandov Studios successfully increased net profits by 29.2% to a total value of CZK 43.8 million as compared to the preceding year. Revenues from the sale of products and services grew by 4.3 million to a final amount of 497.6 million crowns. According to Zelazko, “Last year, the number of foreign and Czech films shot at Barrandov was the highest it has been since 1989 and the volume of commercial shoots also increased in an unprecedented manner.”

The list of foreign films shot at Barrandov and its Hostivar stages last year includes “Casino Royale”, “Hannibal Rising”, “Red Baron”, “La Dame d´Izieu”, “Hostel 2”, “Psycho 9”, and “Happy New Year”. Czech films made at Barrandov in 2006 include “Obsluhoval jsem anglickeho krále” (“I Served the King of England”), “Maharal – Tajemstvi talismanu” (“Code Name Maharal”), “Bestiar” (“Bestiary”), and “Vratne lahve” (“Empties”). Barrandov Studios participated as co-producer of the first three Czech films mentioned above.

The volume of commercials shot at Barrandov Studios last year grew by one-fourth as compared to 2005. “Almost 150 commercial projects were filmed at Barrandov’s soundstages last year, including spots for companies such as the Heineken brewery, Renault automobiles, and Aquila mineral water,” commented Zelazko.

Over the approximately seventy years of its existence, more than 2,500 Czech and foreign films, which the company either produced or co-produced, have originated at Barrandov’s soundstages. The establishment of the Barrandov film studios is linked with the entrepreneurial Havel family, primarily in relation to the activities of brothers Milos (1899-1968) and Vaclav Havel (1897-1979). The construction of a modern film studio started on November 28, 1931, according to the plans submitted by architect Max Urban.