Kirch creditors lining up for first payments

Roxborough, Scott
January 2007
Hollywood Reporter -- International Edition;1/23/2007, Vol. 397 Issue 49, p33
The article reports on the agreements arranged by Kirch Media Group with their creditors including Columbia Pictures and Paramount in Cologne, Germany. According to administrator Michael Jaffe, after their five years of bankruptcy their creditors will receive a first payment of $389 million as part of the deal. The largest assets of the company including German television group ProSiebanSat.1and pay television channel Premiere has been sold off to international investors.


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