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Broadcast News
31/08/2000
KIRCHPAYTV SELLS ITS BSKYB SHARES
GERMANY’S biggest pay-television company KirchPayTv, GmbH has announced that it has sold off all of its 58 million shares in BSkyB.
Representing 3.1 per cent of the company, the sell-off will help Kirsch to pay for the development of its business.
Kirch acquired the shares when BSkyB Europe’s second largest pay-television company bought a 24 per cent stake in the German company for $1.5 billion in stock and cash in December.
Kirch who will also be taking out long term bank financing expects to produce a new Fox Children’s channel on October 1 and to add as adult channel over the next few months. In May it secured exclusive rights to broadcast all German ‘Bundesliga’ football matches.
Representing 3.1 per cent of the company, the sell-off will help Kirsch to pay for the development of its business.
Kirch acquired the shares when BSkyB Europe’s second largest pay-television company bought a 24 per cent stake in the German company for $1.5 billion in stock and cash in December.
Kirch who will also be taking out long term bank financing expects to produce a new Fox Children’s channel on October 1 and to add as adult channel over the next few months. In May it secured exclusive rights to broadcast all German ‘Bundesliga’ football matches.
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