Private equity fund takes 6.5% stake
BERLIN — Private equity investment fund Avenue Capital Group has taken a 6.5% stake in Premiere Star, the satellite platform of German pay TV operator Premiere.Premiere, which brought in a number of outside investors to launch Premiere Star last year, sold the stake for an undisclosed amount but still holds a near 60% stake in the subsidiary. Premiere currently carries 35 channels on Premiere Star, which has attracted more than 170,000 subscribers since its launch in 2007. Premiere Star’s other shareholders include credit institute HypoVereinsbank (10%), Turner Broadcasting System (8.5%), Leo Kirch’s EM.Sport Media (5%), Medienengagement East (5%), Swiss adult media company TMC Content Group (3%), Atlas Ventures (1.1%) and Wellington Partners (1.1%).
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