Kirch appeals EU ruling blocking digital-TV plan

Article Abstract:

Kirch Group of Munich, Germany, announced that the company is appealing a European antitrust ruling that is hindering the company's proposed digital-TV venture in Germany with Germany-based Bertelsmann AG. In May 1998, The European Commission (EC) denied the joint-venture plans of Kirch and Bertelsmann, citing that the partners would monopolize the pay-TV industry in Germany. An estimated DM1 billion, or $562.9 million, has been spent by Kirch in digital television but the company must still require a partner who will help assume the huge continuing expenses.

Comment:

Is appealing a European antitrust ruling that is hindering its planned digital-TV venture in Germany w/ Bertelsmann AG

Television Broadcasting, Public affairs, Television broadcasting industry, Kirch Group, Article

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Audi expects rally may run out of gas

Article Abstract:

Audi AG says 1998 net profits were 26% higher than 1997 net profits, but fears that sales and profits may not rise in 1999. Audi's 1998 net profits were DM463 million, or US$258.2 million, up from DM367 million in 1997. Audi expects its worldwide vehicle sales will be 146,000 units in 1st quarter 1999, down 1.9% compared to 1st quarter 1998. Only US sales seem likely to grow in 1999, according to Audi Chairman Franz-Joseph Paefgen. Audi expects to sell about 4000 TT Coupes in the US in the first half of 1999.

Sales, profits & dividends, Finance, Transportation equipment industry, Audi AG

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BMW's Rover chief quits as unit prepares for cuts

Article Abstract:

The chairman of the British Rover unit has resigned following the company's steady losses. Bayerische Motoren Werke (BMW), which owns Rover, announced that Walter Hasselkus stepped down after taking on the role in 1996. BMW also stated that cost-cutting plans for the British unit will cut 2,500 employees.

Comment:

The chairman of the British Rover unit has resigned following the company's steady losses.

United Kingdom, Motor vehicles and car bodies, Executive changes & profiles, Motor Vehicles, Automobile and Light Duty Motor Vehicle Manufacturing, Motor Vehicles and Equipment, BMW AG, Rover Group PLC

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