Kirch Media deal fails to complete

The negotiations regarding the take over of Kirch Media via Sapan Capital Group have been abandoned. In March Saban and German television operator ProSiebenSat.1 Media AG reached an exclusive agreement with Kirch Media regarding the movie library and rights business of Kirch. According to the agreement Saban would have acquired 36% in the assets, while ProSiebenSat.1 would have taken 72%. The transaction failed when the parties involved, including debt providers, where unable to finalise the transaction within a reasonable time frame.

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