Kirch talks pay TV with Al Waalid

Prince may pay $210 million price for 3% stake

BERLIN — German media giant the Kirch Group confirmed Monday that talks are under way with Saudi investor Prince Al Waalid to take a stake in Kirch Pay TV. This week’s issue of news mag Der Spiegel reported the companies are close to signing a deal that would give Al Waalid a 3% stake in Kirch Pay TV for a price of DM400 million ($210 million).

Al Waalid last year acquired a similarly-sized stake in Kirch Media, the company’s free TV, production and rights-trading holding.

Last month, Rupert Murdoch acquired a 24% stake in Kirch Pay TV’s main asset, the pay web Premiere World.

Kirch honcho Dieter Hahn said following the Murdoch deal that the company may sell up to another 10% in the pay holding.

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