Saban takes over ProSiebenSat.1

Roxborough, Scott
March 2003
Hollywood Reporter -- International Edition;3/18/2003, Vol. 377 Issue 42, p3
Television program producer Haim Saban has signed a deal with bankrupt German television group KirchMedia AG on March 24, 2003 to take control of Germany's commercial broadcaster ProSiebenSat.1 AG. Saban is also in the final stages of negotiations to take over the vast library of German film and television rights of KirchMedia, a deal which is expected to close in the next 10 days. Together, the two deals have been valued at about two billion dollars. Saban admitted that times are tough for the German television industry, but he is optimistic that ProSiebenSat.1 will bounce back as the German market pulls out of recession.


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