Bauer mulls boarding bid for Kirch

Exec to wait until the end of the month to make a decision

BERLIN — German publisher Heinrich Bauer may rejoin the race for bankrupt TV giant Kirch Media.

Bauer and fellow publisher Axel Springer made a nonbinding offer for the Kirch assets this summer but did not make the final cut in the auction.

Now the company is reportedly being wooed by other bidders, which include Columbia TriStar, producer Haim Saban and French TV group TF1.

Bauer is still interested in Kirch Media, but intends to wait until the end of the month to make a decision on re-entering the bidding.

Meanwhile, a Munich court postponed until Sept. 20 a final ruling on a temporary injunction filed by former Kirch topper Leo Kirch against the acquisition of his 40% stake in Axel Springer by Deutsche Bank.

The bank holds the stake against a $725 million loan to the Kirch Group and was to seize the asset Tuesday. Although a sale of the stake to German publishing group WAZ appears to have collapsed, Kirch is said to have a new buyer.

Springer last week filed its own injunction against Kirch to stop him from selling the stake without its approval.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety