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.