Tele Munchen bites into CineGroupe
October 30, 2000
By Susan Tolusso and Leo
Tele Munchen Group of Germany has purchased a small minority stake - less than 10% - in Montreal animation prodco CineGroupe. Privately held, CineGroupe declined to name an exact figure, but says the deal allows Tele Munchen - which is involved in theatrical distribution, video, cinema, television distribution, production and merchandising - a first look at CineGroupe's international coproduction opportunities and presales.
The first collaboration between the two companies is a 3D feature, Pinocchio 3001, currently being financed and expected to begin shooting early next year with some work to be done in each country. Canadian Daniel Robichaud, who worked on special effects on James Cameron's Titanic and on the Coca-Cola polar bears commercials, will direct. Pinocchio is CineGroupe's fourth feature.