Kirch kicks in deal for World Cup worldwide

Media giant to take over existing contracts to 2002, 2006

By ED MEZA

BERLIN -- German media giant Kirch Group confirmed Monday that it will exercise its option to buy the world rights it doesn't already own for the 2002 and 2006 World Cup soccer championships, giving it a monopoly on the event ( Daily Variety, July 2).

The $725 million deal, sparked by Swiss sports marketer ISMM's bankruptcy, adds Africa, Asia and Australia-New Zealand to Kirch's European and U.S. interests. Most of the rights to the 2002 games, to be held in Japan and South Korea, and the 2006 event, to be hosted by Germany, had been sold by ISMM. Kirch will take over the existing contracts.Profits stemming from rights sales are estimated at more than $1.56 billion and will be divvied up between Kirch and world soccer federation FIFA.