Febiofest changes owners

The long-running Febiofest film festival has changed owners, the news website idnes reports. According to the site, founder Fero Fenič sold the ownership rights to the Prague International Film Festival for the sum of 25 million crowns, to be paid over five years. Mr Fenič is to stay on as the festival’s president. The company behind the Prague International Film Festival was founded last year by Mr Fenič along with partners and financial investors. Kamil Spáčil, the former head of Barrandov TV, will be the festival’s new director. Febiofest was founded back in 1993; in 2011 it generated profits of 1.1 million crowns, a year after suffering losses of 4.5 million, idnes writes.