You will be redirected back to your article in seconds

Helkon feels Kirch pinch

Co. to write off $9 mil in losses

BERLIN — Helkon Media has joined the growing list of companies whose balance sheets have had to be rewritten following the collapse of German giant Kirch Media.

Company said Wednesday it was slating just 5% of its titles for pay TV, slashed from 20%, as a result of growing uncertainty in the German market.

Helkon is writing off 10 million euros ($9 million) in related one-time losses. The company hopes to recoup some of that from the home entertainment market.

A spokesman said “the positive development in the video-DVD segment” would compensate for lower pay TV revenues, and the company plans to up the number of titles released on videocassette and DVD.

Helkon will continue providing content to Germany’s terrestrial TV market. It added that its own liquidity would not be affected by the rights reallocation.

Earlier this week Cologne-based Splendid Medien was forced to write off part of the $4.8 million owed by Kirch Media for a free-TV film package. Its readjusted balance sheet saw annual losses increase by $5.1 million to $7.7 million last year.

More Biz

  • Merger Mayhem

    Merger Mayhem: Media Companies Scramble to Bulk Up in Order to Survive

    BERLIN — Helkon Media has joined the growing list of companies whose balance sheets have had to be rewritten following the collapse of German giant Kirch Media. Company said Wednesday it was slating just 5% of its titles for pay TV, slashed from 20%, as a result of growing uncertainty in the German market. Helkon […]

  • Bruce Springsteen and Patti SmithWorld Premiere

    Bruce Springsteen Joins Patti Smith on Stage at Tribeca 'Horses' Premiere

    BERLIN — Helkon Media has joined the growing list of companies whose balance sheets have had to be rewritten following the collapse of German giant Kirch Media. Company said Wednesday it was slating just 5% of its titles for pay TV, slashed from 20%, as a result of growing uncertainty in the German market. Helkon […]

  • Hulu Live TV Package

    APOS: Asian Video Market Set for Strong Growth (Study)

    BERLIN — Helkon Media has joined the growing list of companies whose balance sheets have had to be rewritten following the collapse of German giant Kirch Media. Company said Wednesday it was slating just 5% of its titles for pay TV, slashed from 20%, as a result of growing uncertainty in the German market. Helkon […]

  • netflix debt

    Netflix Raises $1.9 Billion in Debt Financing, Its Biggest Round Ever

    BERLIN — Helkon Media has joined the growing list of companies whose balance sheets have had to be rewritten following the collapse of German giant Kirch Media. Company said Wednesday it was slating just 5% of its titles for pay TV, slashed from 20%, as a result of growing uncertainty in the German market. Helkon […]

  • Kris Wu, Chinese Superstar Singer-Actor, Signs

    Kris Wu, Chinese Superstar Singer-Actor, Signs With Universal Music Group

    BERLIN — Helkon Media has joined the growing list of companies whose balance sheets have had to be rewritten following the collapse of German giant Kirch Media. Company said Wednesday it was slating just 5% of its titles for pay TV, slashed from 20%, as a result of growing uncertainty in the German market. Helkon […]

  • solo a star wars story

    'Sabacc' Trademark Holder Sues Lucasfilm and Denny's

    BERLIN — Helkon Media has joined the growing list of companies whose balance sheets have had to be rewritten following the collapse of German giant Kirch Media. Company said Wednesday it was slating just 5% of its titles for pay TV, slashed from 20%, as a result of growing uncertainty in the German market. Helkon […]

More From Our Brands

Access exclusive content