Leo Kirch takes control of ProSieben Network

Article Abstract:

Thomas Kirch will trade his 58.4 percent in ProSieben Media AG, the only German television network to list its shares on the stock exchange, for up to 8 percent of Kirch Media, part of the Kirch Group. By taking control of ProSieben, Kirch increases his share of the total German television market - excluding pay-per-view - to roughly 26%. That is still below the critical threshold of 30% market share that regulators say constitutes a dominant market position.

Asset sales & divestitures, Acquisitions & mergers, Mergers, acquisitions and divestments, ProSieben Media AG

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Cash woes cloud Kirch's empire

Article Abstract:

The article discusses how financial troubles could hurt Leo Kirch's media empire. Kirch, patron of Kirch Group, needs to accumulate $460 million to make a payment connected to a total debt load estimated at roughly Euro4 billion.

Use of Funds, Finance, Kirch, Leo

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