Kloiber closes deal for ATV
EmptyCOLOGNE, Germany -- Herbert Kloiber's Tele Munchen Group has taken control of Austrian commercial TV channel ATV, acquiring an additional 42.4% of the channel from Bawag bank.
The deal, which TMG valued "in the low double digit millions (of euros)," gives Kloiber 98% of ATV. The move had been expected.
German commercial channels RTL and Sat.1 also had been eyeing ATV but pulled out of the bidding for Bawag's stake early on, leaving Kloiber as the only viable buyer.
Kloiber now plans to build up ATV to make it a real player in Austria. Currently, the Vienna-based channel has about 3% of the Austrian market.
Kloiber's TMG is already a major player in the much larger German TV scene. TMG controls niche movie channel Tele 5 and holds a significant stake in RTL2, which Kloiber controls together with Bauer Media, Herbert Burda and the RTL Group.