| 5 billion euros in debt TV is to formally join the investor group after winning permission from antitrust authorities
Mediaset chief executive Giuliano Adreani said last month that Mediaset would be interested in joining Saban S TV and Swiss investor Hans-Dieter Cleven agreed to take over the DSF channel, subject to regulatory approval, KirchMedia said in a statement "
A spokesman for Saban declined to comment on that report It said the sale means it has disposed of 90 percent of its assets
"Saban can buy KirchMedia without us
The bulk of its assets â€â€? the ProSiebenSat media entrepreneur Haim Saban The Saban Group had no immediate comment and a KirchMedia spokesman did not return a call seeking comment We're not going to make an entrance into Germany at any cost," he said
However, the company's chief financial officer, Marco Giordani, said Wednesday there was a wide gulf between Saban's proposals and how Mediaset sees the structure of any deal ProSiebenSat DSF has an average share of 0
KirchMedia was the core business in the empire of Bavarian media mogul Leo Kirch, which collapsed last year under some 6
The agreement has been signed by Karstadt-Quelle, Europe's largest department-store operator, and Cleven, while EM 2 private broadcaster behind Bertelsmann AG's RTL Group
Meanwhile, chairman Fedele Confalonieri of Mediaset said Italy's largest private broadcaster is in talks with Saban over his purchase of KirchMedia's film and TV program library Bankrupt Kirch Group Sells Sports TV
Apr 16, 2:01 PM EST
Germany's bankrupt KirchMedia has agreed to sell its sports television station to an investor group including retailer Karstadt-Quelle, the company said Wednesday 1 television broadcast group, and a film and TV program library â€â€? have gone to U
"Saban is pulling investors together," Confalonieri told a shareholders' meeting "There are proposals and counterproposals and we are in talks with them 9 percent of German viewers
KirchMedia, part of the Kirch Group media empire, filed for bankruptcy last year
Any deal must also pass scrutiny by the court-appointed bankruptcy administrator, Kirch's creditors' committee and television regulators 1 is Germany's No
Despite the agreement, a competing bid from Saban remains a possibility, the Sueddeutsche Zeitung daily reported in an advance copy of a story for Thursday's editions, without naming sources
Karstadt-Quelle, German media company EM
The buyers intend to keep DSF, which stands for Deutsche SportFernsehen or German Sports Television, operating at its Munich base, KirchMedia said
A court administrator is overseeing the sale of its assets to pay back creditors |