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Article: Italian films are ending up on cutting-room floor due to state cuts.
- Article from:
- Sunday Business (London, England)
- Article date:
- September 5, 2004
CopyrightCOPYRIGHT 2004 Sunday Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Robert Galbraith
Sep. 5--The glitz and glamour of the Venice Film Festival this week is unlikely to hide a growing financial crisis in Italian cinema. The government is making deep cuts in the state funding that helped finance Italian film directors including Rossellini, Visconti and Fellini.
Private investment, which has been invited to cover the shortfall, is likely to be led by Ubaldo Livolsi, the former manager of the business empire of Italian prime minister Silvio Berlusconi. He intends to organise a E50m-E60m ($60m-$73m, UKpound 34m-UKpound 41m) private equity fund, to be launched next year, which will invest in Italian film. He hopes ...