News German Television Holding, a subsidiary of the News Corporation Limited (NYSE: NWS), is to become a partner in KirchMedia GmbH & Co. KGaA, the KirchGruppe company responsible for rights trading, commercial television, New Media, sports, production and film technology.
Based on an agreement signed by both companies last Wednesday, KirchMedia will acquire all of the TV station tm3 from News Corporation. Immediately following the acquisition of tm3 by KirchMedia, KirchMedia will transfer tm3 to H.O.T. Networks AG.
In exchange for contributing all of its interest in tm3 to KirchMedia, News Corp. is receiving a 2.48 interest in KirchMedia and additional cash consideration.
As a result of Murdoch´s News Corporation acquiring its interests in KirchMedia, the partners in KirchMedia GmbH & Co. KGaA will be as follows: KirchHolding GmbH & Co. KG (72,62 percent), Thomas Kirch (6,54 percent), Rewe (5,71 percent), Capital Research Management Funds (2,93 percent), Fininvest S.p.a. (2,48 percent), Kingdom Holdings 8 B.V. (2,48 percent), Lehman Brothers Merchant Banking (2,48 percent), News German Television Holding (2,48 percent) and – subject to the completion of its pending equity investment – Mediaset Invest S.a.r.l. (2,28 percent).
Further information on KirchMedia can be accessed at www.kirchmedia.de.
For questions kindly contact:
KirchMedia GmbH & Co. KGaA
Tel.: +49 (0)89 9956-2325