A consortium of German magazine group, Bauer Verlag, and Bavarian bank, HVB Group AG, has emerged as the successful suitor to the KirchMedia business, following months of bidding (see Kirch Move Prompts World Cup Rights Auction).
The prime asset of the KirchMedia group is the 52.5% stake in ProSiebenSAT1, Germany’s largest free to air broadcaster. It also has a very extensive rights library, including a number of key sports broadcasting rights.