Mogul owns 50% of Teutonic theatre chain
BERLIN — Munich media mogul Herbert Kloiber has been named chairman of Cinemaxx’s supervisory board, following his near-50% acquisition of the multiplex chain.
Kloiber’s Tele Munchen Group earlier this year took over Cinemaxx’s debt from its main creditor, Dresdner Bank.
In October, Cinemaxx shareholders voted to transform the debt into a 49.66% stake in the company, making Kloiber the main shareholder in Germany’s second-largest exhib chain after Kieft & Kieft. Cinemaxx operates 38 multiplexes with 332 screens across the country.
Kloiber also has extensive television assets, theatrical production and distrib and home-entertainment operations and a film-licensing business that accounts for the lion’s share of his company’s revenue.