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Article: RUPERT MURDOCH EXPRESSES INTEREST IN GERMAN KIRCH GROUP.
- Article from:
- Tech Europe
- Article date:
- December 13, 2001
CopyrightCOPYRIGHT 2001 Europolitics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Financial Times reported on its web site on December 7 that Australian-American media magnate Rupert Murdoch may be considering a bid for the German Kirch group. Such a deal would make Rupert Murdoch's News Corp Europe's most powerful television sector player. Rupert Murdoch, who already controls 22% of Kirch's Premiere subscription channel, holds an option whereby he can ask Leo Kirch to buy back the stake estimated to be worth about Euro 2 billion. This option cannot be exercised before October 2002, but if such were to be the case, Leo Kirch, already beset by debt, might be hard pressed to meet his obligation, according to FT.com. The Kirch group ...