×
You will be redirected back to your article in seconds

Tele Munchen revs hit $194 mil on record sales

Film acquisitions help solidify position

BERLIN — German media outfit Tele Munchen Group bested 1999’s record sales figures by 2% in 2000 with revenues of DM424 million ($194 million). Company also had a pre-tax windfall of $158 million from the sale of its 34% stake in weblet TM3 to News Corp.

TMG solidified its position as the second-biggest license trader in the German-lingo market (after the Kirch Group) by investing more than $140 million in film acquisitions, including “Autumn in New York,” “Wonderboys” and “Rollerball” as well as popular toon series “Digimon” and more runs of TV’s “Stargate SG-1.”

TMG, the only company to rival Kirch and RTL, was instrumental in launching webs including Tele 5 (which later became Kirch sport channel DSF), RTL 2 and TM3. Company is set to put a new digital broadcaster — TM.TV — on the air later this year in Germany.

Startup costs are estimated at $140 million with operating losses of some $35 million in 2002, according to the company.

In Austria, TMG is expecting new government legislation to pave the way for its cable channel ATV to be granted a terrestrial license.

In preparation for that, the web has increased its shareholders to include the Scandinavian Broadcasting Group (SBS) in addition to U.S.-Dutch cabler UPC, Austrian bank BAWAG and TMG, each with 25% stakes.

In addition, company holds a stake in Hungary’s TV2. TMG is also considering launching regional webs in Munich, Berlin and Hamburg.

Munich kidvidder EM.TV holds a 45% stake in TMG but may be forced to sell it in order to get regulatory approval for its new partnership with Kirch.

More TV

  • James Holzhauer $2 million

    'Jeopardy!' Champion James Holzhauer Hits $2 Million Winnings Milestone

    This current “Jeopardy!” player has just won over $2 million on the popular game show. Who is James Holzhauer? The 34 year old professional sports gambler from Las Vegas has hit a “Jeopardy!” milestone by becoming only the second person in the show’s history to win over $2 million in regular season play. Holzhauer won [...]

  • Kanye West Shares a Memory of

    Kanye West Shares a Touching Memory of His Mother in Letterman Interview

    In a preview of David Letterman’s interview with Kanye West, which begins streaming next Friday, May 31, the musician’s wife Kim Kardashian West, tweeted a clip of him sharing a touching memory of his mother, Donda, who died in 2007 after a surgical procedure. While his wife looks on smiling, West answers Letterman’s question about [...]

  • CNN Lays Off Some Health Journalism

    CNN Lays Off Some Health Journalism Staffers

    CNN has laid off a handful of staffers from its health-journalism unit after deciding to place its health, climate and Southeastern newsgathering operations under a single aegis. ” As part of the normal course of business, our newsgathering team made a small restructure earlier this week that ultimately impacts 6-7 employees within CNN’s Health Unit,” [...]

  • Henry Ian Cusick

    'Lost' Star Henry Ian Cusick Signs With Buchwald (EXCLUSIVE)

    Henry Ian Cusick, best known for playing Desmond on the hit ABC series “Lost,” is signing with talent agency Buchwald for representation. Cusick also starred in the CW sci-fi/drama “The 100” and was most recently seen in the Fox series “The Passage.” His other notable television credits include “Scandal,” “24,” “Fringe,” “The Mentalist,” “Body of [...]

  • Bryan Cranston First Time in Variety

    Bryan Cranston on His Early Roles, Dealing With Rejection and His 'Erasable Mind'

    Following his 2014 Tony Award for best actor as President Lyndon B. Johnson in Robert Schenkkan’s play “All the Way,” Bryan Cranston is looking to add to his trophy collection this year with his performance as Howard Beale in “Network.” The deranged anchorman — who’s famously “mad as hell and not going to take this [...]

More From Our Brands

Access exclusive content