Fifty Companies Circle Offspring of Bankrupt KirchMedia

28 May 2002

The constituent parts of collapsed German media group KirchMedia, holding company for most of tycoon Leo Kirch’s media assets, have attracted interest from around fifty interested cherrypickers, according to those close to the scene.

The vital statistics of these Kirch units will be despatched this week to a pack of inquirers, among whom are AOL Time Warner, Columbia Tristar International Television, Rupert Murdoch’s Fox Television, MGM, Paramount and Walt Disney TV International – Kirch creditors all. Also on the prowl are German media giants Bauer, Burda, Holtzbrinck Group and the WAZ-Gruppe.

Insiders say that all the major shareholding interests will be sold before the year end, as KirchMedia’s joint-managing directors Wolfgang van Betteray and Hans-Joachim Ziems are eager for a swift resolution – as is insolvency administrator Michael Jaffé.

Data sourced from: (Germany); additional content by WARC staff