Moves for Munchen

World Brief

Herbert Kloiber is transforming his Tele Munchen Group into a joint-stock company, equivalent to incorporation in the U.S.

Kloiber stressed that he is not planning to take his vast entertainment company public but reiterated that he would open the door to investors.

Kloiber’s deputies, Bernd Schloetterer and Ludwig Bauer, will become executive board members following Tele Munchen’s incorporation. Schloetterer also will acquire 3% in the group and continue to oversee licensing, programming sales and business development.

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