Irisarri steps lower at Spain's Vertice

TAULL, The country -- Jose Maria Irisarri has resigned as Boss and professional prexy of Vertice 360 Group, among Spain's greatest film-TV congloms. Vertice is the owner of 50% of L.A.-based TV production house Powwow. Irisarri will step lower Jan. 18. Holding a 3.27% stake in Vertice, he'll remain on like a board member. Irisarri's resignation was sparked through the refusal of his board, whose people include high-tech company Ezentis and Catalan publish-production house Lavinia, to approve the incorporation of the unknown investor that will bolster Vertice's growth and finances. Irisarri's resignation may come as Vertice faces a few of the most difficult market conditions in The country in modern occasions. Openly cited, Vertice clawed $926,000 internet profits this year off revenues of $145 million. Vertice is better noted for pic productions, for example AFM hit "Bet on Werewolves," and indie film distribution for The country. Its core biz still remains film and television services, however. These paid for for 58% of sales this past year. Vertice has wager on progressively cash-strapped The spanish language tv stations out-sourcing more services. With new The spanish language premier Mariano Rajoy proclaiming Monday that his Popular Party will examine public broadcast models in The country, there's some risk that, instead of downscaling, some local pubcasters only will disappear. Now Vertice introduced a proper alliance with Argentina's La Corte, a publish-production and facilities house. It's also growing worldwide sales company Vertice Sales. Growth abroad looks even more urgent as Vertice faces a contracting economy in your own home. Contact the range newsroom at news@variety.com