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Shareholders at Rome’s Cinecittà Studios to Approve Restated Financial Records
The Hollywood ReporterStory by Kevin Cassidy
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Once a crown jewel of Italy's film industry, iconic Cinecittà Studios faces financial ruin, setting the stage for a high-stakes shareholder showdown.
beat sheet
- An independent audit uncovered a potential 6.7 million euro ($7 million) shortfall in Cinecittà's finances, forcing the studio to restate its past accounts and reckon with alleged mismanagement by former CEO Nicola Maccanico.
- Maccanico, appointed by the previous center-left government, faces accusations of oversight and a controversial contract with Fremantle that may have violated his non-compete clause, fueling calls for legal action.