Kirch creditors sign off on Saban deal

Mogul takes film library, rights business

BERLIN — Kirch creditors approved Haim Saban’s takeover of the former Kirch Media assets on Monday, pushing the deal closer to fruition.

Saban secured Kirch Media’s film library and rights business last week, ending the yearlong sale of the bankrupt German conglom’s holdings. The billionaire producer purchased Kirch’s ProSiebenSat 1 on March 17.

Monday’s approval by the Kirch Media creditor committee had been expected and was little more than a formality. The committee includes reps from German banks Bayern LB, Commerzbank, HypoVereinsbank and DZ Bank, as well as Disney and Columbia.

The purchase still must also be approved by federal antitrust watchdogs and state media regulators.

Meanwhile, Kirch Media’s insolvency management is still reviewing bids for the company’s remaining assets, including sports channel DSF, which has attracted the attention of German kidvidder EM.TV.

More Scene

  • NYWIFT MUSE Awards

    Judith Light Praises Current 'Truth-Telling,' 'Courage' in Hollywood at New York Women in Film & Television Event

    BERLIN — Kirch creditors approved Haim Saban’s takeover of the former Kirch Media assets on Monday, pushing the deal closer to fruition. Saban secured Kirch Media’s film library and rights business last week, ending the yearlong sale of the bankrupt German conglom’s holdings. The billionaire producer purchased Kirch’s ProSiebenSat 1 on March 17. Monday’s approval […]

  • Palm Springs Where to eat Drink

    Palm Springs Hotter Than Ever: Places to Eat, Drink, Stay

    BERLIN — Kirch creditors approved Haim Saban’s takeover of the former Kirch Media assets on Monday, pushing the deal closer to fruition. Saban secured Kirch Media’s film library and rights business last week, ending the yearlong sale of the bankrupt German conglom’s holdings. The billionaire producer purchased Kirch’s ProSiebenSat 1 on March 17. Monday’s approval […]

  • Steven Spielberg Meryl Streep Tom Hanks

    Steven Spielberg, Meryl Streep, Tom Hanks on Why 'The Post' Resonates in Trump Era, #MeToo Movement

    BERLIN — Kirch creditors approved Haim Saban’s takeover of the former Kirch Media assets on Monday, pushing the deal closer to fruition. Saban secured Kirch Media’s film library and rights business last week, ending the yearlong sale of the bankrupt German conglom’s holdings. The billionaire producer purchased Kirch’s ProSiebenSat 1 on March 17. Monday’s approval […]

  • 2017 Ripple of Hope Awards

    Why Alfre Woodard Thinks 'Everybody Gets Left Out' of Film Awards Race

    BERLIN — Kirch creditors approved Haim Saban’s takeover of the former Kirch Media assets on Monday, pushing the deal closer to fruition. Saban secured Kirch Media’s film library and rights business last week, ending the yearlong sale of the bankrupt German conglom’s holdings. The billionaire producer purchased Kirch’s ProSiebenSat 1 on March 17. Monday’s approval […]

  • 'Father Figures' film premiere

    'Father Figures' Premiere Raises Funds for Southern California Wildfire Victims

    BERLIN — Kirch creditors approved Haim Saban’s takeover of the former Kirch Media assets on Monday, pushing the deal closer to fruition. Saban secured Kirch Media’s film library and rights business last week, ending the yearlong sale of the bankrupt German conglom’s holdings. The billionaire producer purchased Kirch’s ProSiebenSat 1 on March 17. Monday’s approval […]

  • 'Grown-ish' TV show premiere

    A Meme Inspired 'Black-ish' Spinoff 'Grown-ish,' Creator Kenya Barris Says

    BERLIN — Kirch creditors approved Haim Saban’s takeover of the former Kirch Media assets on Monday, pushing the deal closer to fruition. Saban secured Kirch Media’s film library and rights business last week, ending the yearlong sale of the bankrupt German conglom’s holdings. The billionaire producer purchased Kirch’s ProSiebenSat 1 on March 17. Monday’s approval […]

  • 'Bright' film premiere

    Will Smith Discusses 'Bright's' Racial, Social, Allegorical Undertones

    BERLIN — Kirch creditors approved Haim Saban’s takeover of the former Kirch Media assets on Monday, pushing the deal closer to fruition. Saban secured Kirch Media’s film library and rights business last week, ending the yearlong sale of the bankrupt German conglom’s holdings. The billionaire producer purchased Kirch’s ProSiebenSat 1 on March 17. Monday’s approval […]

More From Our Brands

Access exclusive content