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May 27, 2010
DGAP-News: SPIRIT ON MEDIA GROUP PLC subsidiary Phoenix Medien GmbH acquires TV channel 'Das Vierte'
27.05.2010 19:45
Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement.
LONDON & MUNICH - (Business Wire) The Phoenix Medien GmbH of Munich, a subsidiary of SPIRIT ON MEDIA GROUP PLC, London, today acquired all shares of the TV channel Das Vierte GmbH from the Mini Movie International Channel S.à r.l., Luxembourg.
Since its start through NBC Universal in 2005, Das Vierte has established itself as an integral part of the German television landscape, reaching over 34 million households via satellite, cable and DVB-T. The long term goal of Phoenix Medien GmbH is to further develop Das Vierte with new and exciting program content.
The projected annual turnover of Das Vierte for 2010 amounts to ca. EUR 30 million and will be completely consolidated into the SPIRIT ON MEDIA GROUP PLC.
The acquisition requires confirmation of the relevant media authorities, especially the KEK (the German anti-trust commission for broadcasting).
The parties have mutually agreed not to disclose the purchase price. |
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