After the acquisition of 40% in DSF earlier this month, EM.TV has now become the sole owner of the sports weblet and associated online platform Sport1.
The Munich-based kidvidder said it struck an agreement with Swiss sports investor Hans-Dieter Cleven to purchase his 19% stake in DSF/Sport1, for E12.6 million ($16 million). The price is based on the same valuation as the $35 million it paid for the 40% it acquired earlier from financially wrecked retail group KarstadtQuelle.
“With the encouraging development of both sports companies, especially DSF, it had to be our objective to become the sole shareholder as soon as possible,” said EM.TV’s CEO, Werner Klatten.
The purchase is still subject to approval from regional antitrust authorities.