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Herbert Kloiber Jr. is leaving Tele Munchen Group, the media firm founded by his father and now part of an emerging German studio that is being bankrolled by private equity giant KKR.

Kloiber Jr. had worked across several of TMG’s business units. The company is the centerpiece of a yet-to-be-named group being run by seasoned German media exec Fred Kogel, who paid tribute to Kloiber Jr.

“I have known Herbert Kloiber Jr. for many years and have come to appreciate him both professionally and personally in the short time we have worked together,” Kogel said. “We respect his decision to reorient himself after the change of ownership at Tele Munchen Group. It comes at the right time. We wish him all the best and look forward to having the opportunity to work together again in a different constellation.”

Herbert Kloiber Jr. leaves TMG on 1 Aug. “After seven years of successful management of TMG, in particular of the license trading unit, the world sales unit TM International, as well as co-managing director of Concorde Filmverleih, Concorde Home Entertainment and TELE 5, an ideal time has come for me to break new ground in a future-oriented way,” he said. “I am proud to have positioned our group at the forefront of digital exploitation, built up OTT-services such as Filmtastic and increased international co-production with successes such as ‘The Name of the Rose.’”

The new group will be named later this year. It currently comprises TMG, Universum Film, i&u TV and Wiedemann & Berg Film. Kloiber senior is on the advisory board.