Herbert Kloiber Jr. Leaving Germany's Tele Munchen
The company, together with Universum Film, i&u TV and Wiedemann & Berg Film, is forming a new German studio following an acquisition spree by private equity giant KKR.
German media executive Herbert Kloiber Jr. will leave Tele Munchen Group, which together with Universum Film, i&u TV and Wiedemann & Berg Film is forming a new German studio following an acquisition spree by private equity giant KKR.
The departure of the son of long-time Tele Munchen owner Herbert Kloiber Sr. comes "at his own request and by mutual agreement" and is effective Thursday, the company said.
Fred Kogel, who serves as CEO of the newly merged German giant, said: "I have known Herbert Kloiber Jr. for many years and have come to appreciate him both professionally and personally in the short time we have worked together. We respect his decision to reorient himself after the change of ownership at Tele Munchen Group. It comes at the right time. We wish him all the best and look forward to having the opportunity to work together again in a different constellation."
Said Kloiber: "After seven years of successful management of TMG, in particular of the license trading unit, the world sales unit TM International, as well as co-managing director of Concorde Filmverleih, Concorde Home Entertainment and Tele 5, an ideal time has come for me to break new ground in a future-oriented way. I am proud to have positioned our group at the forefront of digital exploitation, built up OTT-services such as Filmtastic and increased international co-production with successes such as The Name of the Rose."
The newly merged German studio will cover production and license trading, as well as content distribution. The media company has said it will buy and produce feature films and TV shows and exploit them via cinemas, digital services, home entertainment and TV channels.
Asked about his decision to sell Tele Munchen to KKR, Kloiber Sr. earlier this year told THR: "I think it is a decision that matured over the past six to seven years. Once you pass the 7-0 mark, and you begin to relinquish the day-to-day things, once you slowly drift out of the markets and you don't go to Berlin or Cannes or the American Film Market anymore — leaving other people to report how bad the supply of movies is — you find yourself slowly letting go and disconnecting."
Updated with correct attributions of Kloiber Jr. and Sr.