Kirch consolidates new empire
EM.Sport buys remaining Constantin shares
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Leo Kirch’s EM.Sport Media announced Thursday it was bidding for the 4.78% of outstanding shares in Constantin Film it doesn’t own via its stake in Constantin parent Highlight Communications.
The news comes the day after EM.Sport finally sold its money-losing tyke division, EM.Entertainment.
EM.Sport offered to buy the shares, conforming to German takeover law, after it raised its stake in Swiss media group Highlight to 37.6% to become the majority holder.
All outstanding Constantin shares acquired by EM.Sport will then be purchased by Highlight, putting to rest rumors that the Munich-based producer-distrib was up for sale.
EM.Sport has sold EM.Entertainment for E41 million ($64 million) to Belgian media company Studio 100, the largest provider of tyke entertainment in the Benelux region. Deal must be approved by antitrust and regulatory watchdogs in Germany and Austria..
Formerly known as EM.TV, the group split its main divisions a year ago after setting a new strategic focus on sports rights, production and broadcasting.
According to EM.Sport’s outgoing CEO Werner E. Klatten, with Highlight the company can now “create a leading media group within the European sports, film and TV production sectors.”
And if all this sounds familiar, think back to the heady days of Kirch’s previous media empire, the Kirch Group, before it was forced into bankruptcy by spiraling debts at pay TV platform Premiere in 2002.
The Teutonic media mogul is rebuilding his assets and shuffling the exec deck.
In September, Klatten will be replaced by Highlight topper Bernhard Burgener, who will also replace Constantin chief exec Fred Kogel in January.
EM.Sport also owns sports channel DSF and sports production group Plazamedia, both of which stand to benefit from the marketing of top league Bundesliga soccer rights by Kirch’s Sirius SportsMedia -- but only if Kirch’s marketing deal with the German Football League gets antitrust approval.
