05/06/2003

Announced as a fait accompli, the much-touted purchase by US producer and tycoon Haim Saban of KirchMedia has fallen through after Saban failed to drum up the funding to cover the Euros2b price tag. Saban was counting on acquiring a controlling interest in broadcaster, ProsiebenSat.1.
Now the KirchMedia group, and the jewel in the crown, its 18,000-title film and TV programme catalogue, is back on the market. Those reported to be interested in the deal include Mediaset, Arab magnate Al Waleed and Rupert Murdoch’s News Corp as well as German publisher Baurer who announced yesterday that he was “ready to talk to the creditors”.