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Hungarian state owned film studios for sale

Gyorgy Karpati 2008-11-21

The Hungarian National Trust Company (Magyar Nemzeti Vagyonkezelo Zrt., www.mnvzrt.hu) announced in a statement on November 19 a call for tender to sell three state-owned film studios.

The decision follows the move just weeks earlier to turn the distribution rights of all Hungarian films made before 1987 to the Hungarian National Film Archive. The action affects three national film studios, Budapest Film Studio, Hunnia Film Studio, and Objektiv Film Studio, with the Trust stating that as the studios were no longer rights holders, it was no longer reasonable for the state to remain active in the studios.

The Trust Company is calling for a two round tender for selling the studios. The Hungarian state will continue the support of the Hungarian filmmaking but does not wish to take part directly in distributing and filmmaking through its state owned companies.

The nominal values of the three studios are 12,670 euros (Budapest Film Studio), 41 100 euros (Hunnia Film Studio), 25 000 euros (Objektiv Film Studio).

The minimum prices of the three studios are: 111 500 euros (Budapest Film Studio), 40,900 euros (Hunnia Film Studio), and 40,900 euros (Objektiv Film Studio).

The three studios made such masterpieces as the best foreign language Academy Award winner Mephisto (1981), the Cannes awarded Time Stands Still (1982), and one of the biggest Hungarian film hits Stars of Eger (1968).

The deadline of the first round is December 19.

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