Saban Shows Taste for German
Created 02/21/2003 - 00:00
Haim Saban, billionaire entrepreneur who ran Saban Entertainment and Fox Family Worldwide before selling off those assets, reportedly will make a binding offer for bankrupt Kirch Media in Germany according to DAILY VARIETY. He is meeting with creditor banks with his chief strategy officer Adam Chesnoff and examining Kirch Media's books. Media conglomerate Kirch owns one of Germany's largest broadcasting groups, ProSiebenSat 1, as well as a vast film library. German publisher Heinrich Bauer is also interested in buying the group. Kirch Media hopes to have the sale wrapped up by the end of the month. Back at its height, Kirch had an aggressive investment policy in entertainment companies around the world, providing financing to U.S. animation producer Film Roman before the studio went public in 1995, and invested heavily in financially troubled EM.TV & Merchandising.