Das Werk bought by Media Select - News

Post, July, 2003

HUERTH, GERMANY -- Media Select GmbH has acquired post companies Das Werk and Zweig Werk, which used to form the German core business of the holding company Das Werk AG.

The asset deal was effective as of April 1, 2003 and comprises the assets of Das Werk Duesseldorf Das Werk Hamburg, Das Werk Frankfurt and Das Werk Munich as well as Zweig Werk, Frankfurt. Media Select won the bid against a multitude of investors.

Helmut Breuer, managing partner of Media Select, pointed out that the insolvency of the Das Werk post production companies was the consequence of Das Werk AG's many acquisitions in a short time after going public rather than a result of cyclical fluctuations and a weaker advertising economy which resulted in a drop of orders from the advertising industry.

The new owner aims at going back to the roots of the initial success of Das Werk the digital enhancement and visual effects work of films and videos made for cinema, TV and advertising. The new brand will be Pictorion Das Werk The individual branch offices will remain almost unchanged and will be left to act independently.

Breuer gained his reputation as a hard working businessman when he and his brother expanded the crane company of his parents to become the world's number one provider of crane-related services. He was co-founder and managing partner of Magic Media Company a company that ran more than 30 film and TV studios in Huerth and Ossendorf