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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.
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