German Government Will Step In To Save Football League
Following the financial crisis at Kirch Gruppe (see Kirch Sell Off Begins), the German government is to step in in order to protect the German football league from insolvency. In a situation eerily similar to the collapse of ITV Digital and the repercussions for the English league, KirchMedia is unable to honour payments due to German first and second division clubs. It is expected that Kirch will enter into bankruptcy proceedings today unless an acceptable last minute take over offer is brokered by minority shareholders, namely Rupert Murdoch and Sylvio Berlusconi
In order to prevent Murdoch and Berlusconi from taking a controlling interest in German media – in particular the six TV channels controlled by Kirch – the government has stated that it will consider an appeal for help from Kirch. Julian Nida-Rümelin, a junior minister in the government office responsible for media affairs, said that the matter raised issues regarding “how much globalisation we can allow in the media sector and what dangers are posed by the growing domination of the media sector by just a few big concerns, interested exclusively in profit… We must take care that in no circumstances are the public service broadcasters marginalised.”
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