Potsdam, Germany – Studio Babelsberg AG and Cinespace Studios announced today the Commercial Register registration of the domination and profit and loss transfer agreement between the two organizations. With the registration of the domination agreement, which was approved at Studio Babelsberg AG’s general meeting on March 31, 2023, the integration of Studio Babelsberg becomes effective. The domination agreement will allow for Studio Babelsberg to officially operate as part of the Cinespace network.
The domination agreement enables greater cooperation, connectivity, and resource sharing between Cinespace and Studio Babelsberg, creating a premier network of production facilities that benefits from local expertise and global reach. As part of the Cinespace network, Studio Babelsberg AG is positioned to accelerate its growth and expand its business beyond feature films.
Ashley Rice, President & Co-Managing Partner, Cinespace Studios:
“The domination agreement is a milestone in the integration of Studio Babelsberg into Cinespace Studio’s global production platform. We respect and value the heritage of the studio and the production site in Babelsberg. Our goal is to coordinate business activities of both companies under one umbrella to sustain the studio’s future both locally and internationally to attract world-class feature film, streaming, and television production. We look forward to bundling our resources to help lead the company into its next phase of growth.”
Andy Weltman, Co-CEO Studio Babelsberg AG:
“Cinespace shares Studio Babelsberg’s commitment to its employees and to producing films and series for the German and international market. While the ongoing strikes by the screenwriter and actor associations in the US have created significant challenges for the global entertainment industry, we’re looking positively to the future and believe the studio is positioned to succeed over the long term as part of the Cinespace network.”