The famous Babelsberg studio gets a new owner. The deal is intended to strengthen the cradle of German film in competition.
The majority of the film production facility Studio Babelsberg in Potsdam is to be sold. A corresponding agreement had been made with TPG Real Estate Partners (TREP), said Studio Babelsberg AG on Friday night.
In the coming week there should be a public offer for all shareholders of the company. Studio Babelsberg’s board of directors and supervisory board want to support the purchase.
Studio Babelsberg near Berlin: profit of eleven million euros
Last year, the studio near Berlin made around eleven million euros in profit – but the Babelsberg-based companies need more money to compete with other international studios.
The CEO Carl Woebcken announced: “On behalf of the entire management team, we welcome and support TREP’s investment in Studio Babelsberg AG. TREP’s network and financing options as well as Studio Babelsberg’s solid business base will strengthen our position as a leading production location in Strengthen Europe worldwide. “
The Babelsberg studio was founded in 1912 and claims to be the oldest large-scale film studio in the world and the cradle of German film.