Murdoch eyes TM3 buy

Kloiber to sell 34% stake for $147 million

BERLIN — German entrepreneur Herbert Kloiber is reportedly ready to sell his stake in Teutonic channel TM3 to fellow shareholder Rupert Murdoch, giving the tycoon full control.

Kloiber had told Daily Variety at Mip TV in Cannes that he had no plans to sell, but a report in Wednesday’s daily paper Sueddeutsche Zeitung said Kloiber’s TeleMuenchen will accept DM 300 million ($147 million) for its 34% stake. The paper said that Murdoch, who currently holds 66% of TM3, would convert it into a fitness channel modeled on his U.S. cable net Health Network.

If Murdoch pulls off the buy, the TM3-held Champion’s League soccer free TV rights could be sold back to commercial station RTL, with pay rights going to the Kirch Group’s Premiere World, in which Murdoch has a 24% stake.

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