News Corp. seeks stakes in Kirch, Italian TV unit
Article Abstract:
News Corp. is negotiating two separate acquisition deals, a minority stake in Kirch Group, a media company based in Munich, Germany, and Telecom Italia SpA's digital-television platform Stream SpA. The Kirch deal, which is valued between $600 million and $650 million, is reportedly at its preliminary stage with both companies refusing to discuss the details of the negotiations. Meanwhile, News top executive Rupert Murdoch is accused by Italian politicians as colonizing the Italian pay-TV market although reports say the negotiations are in the advanced stage. The deal will keep Telecom Italia as major shareholder with Murdoch controlling between 30% and 40% through UK-based BSkyB. ItalianTV firm RAI will control the remaining stakes in Stream.
Comment:
Is negotiating to acquire Telecom Italia SpA's digital-television platform Stream SpA
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Bertelsmann rejects pay-TV compromise
Article Abstract:
Bertelsmann AG has refused to accept the compromise that would allow the European Commission to approve the company's proposed pay-television alliance with Kirch Group and Deutsche Telekom AG. European Union antitrust chief Karel Van Miert reduced the demands on the companies that would form the alliance, and Kirch Group owner Leo Kirch agreed to the proposed minimum concessions, as well as Deutsche Telekom. However, Bertelsmann's head of entertainment, Michael Dornemann, would not sigh up to the concessions. As a result, the 20-member commission, which is expected to rule on the case by June 3, 1998, may block the venture unless Bertelsmann concedes.
Comment:
Its proposed pay-TV alliance w/ Bertelsmann AG & Kirch Group is likely to fail unless Bertelsmann concedes to the compromise
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Bertelsmann, Kirch deal faces EU rejection
Article Abstract:
Kirch Group's plan to merge with Bertelsmann AG's TV unit CLT-Ufa is likely to face a rejection from the European Commission. According to a commission official, if the both parties concerned fails to make further concessions to ensure competition in Germany's digital TV market, the Commission will dump the merger at its weekly meeting on May 28, 1998. However, both Kirch and CLT-Ufa confirmed that they are offering any new concessions on their planned merger. If the commission will reject the merger, it would could endanger the future of Premiere and DF-1, Kirch's own, unsuccessful digital service.
Comment:
TV unit CLT-Ufa's plan to merge w/ Kirch Group is likely to face a rejection from the European Commission
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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