Tele-Munchen plans on 2001 stock offering
BERLIN — Tele-Munchen, one of Germany’s few remaining unlisted film and TV players, is headed for the German stock exchange early next year.
Thomas Haffa, CEO of Tele-Munchen Group (TMG) shareholder EM.TV & Merchandising, told financial daily Handelsblatt that the company would be going public at the beginning of 2001 at the latest.
Both EM.TV and fellow shareholder Herbert Kloiber would give up some of their stock in TMG but retain a majority.
Tele-Munchen recently sold its 34% of stock in local weblet TM3 to former partner Rupert Murdoch for DM 350 million ($163 million).
In addition to stakes in the CLT/Ufa-controlled channel RTL2, Hungary’s TV2 and Munich FM station Radio Energy, the group also owns German film and video distribs Concorde Filmverleih and Concorde Home Entertainment.
Like other German entertainment groups looking to flex their muscles abroad, Tele-Munchen has been eyeing the global market and is expected to increase its international activities after going public.
The company recently signed a joint $200 million credit deal with Los Angeles-based Mutual Film Co., the BBC, Japan’s Toho-Towa and a bank consortium headed by Union Bank of California.